Location: China.
Department affected: technology.
Based on news reporting.
Citigroup Inc. has announced plans to cut 3,500 technology jobs as part of a global restructuring effort. This decision reflects the bank's strategy to streamline operations and adapt to changing market conditions. The layoffs will primarily affect positions in China, although specific timelines for the job cuts have not been disclosed. This move is part of a broader initiative to enhance efficiency and reduce costs within the organization. Citigroup's restructuring comes amid a challenging economic environment, prompting the bank to reassess its workforce needs.
Citigroup Inc. cut 3,500 jobs affecting its technology team.
That is roughly 1.5% of the 229,000 people Citigroup Inc. employs.
LayoffTalk has tracked 13 layoff events at Citigroup Inc. since January 2023, affecting a combined 12,500 employees.
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Estimated figure based on news reporting. Not yet confirmed by Citigroup Inc..
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