{"id":853925,"date":"2025-06-07T06:12:15","date_gmt":"2025-06-07T11:12:15","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/07\/citigroup-cuts-thousands-of-staff-at-china-based-tech-centres\/"},"modified":"2025-06-07T06:12:15","modified_gmt":"2025-06-07T11:12:15","slug":"citigroup-cuts-thousands-of-staff-at-china-based-tech-centres","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/07\/citigroup-cuts-thousands-of-staff-at-china-based-tech-centres\/","title":{"rendered":"Citigroup cuts thousands of staff at China-based tech centres"},"content":{"rendered":"<div id=\"content-header\">\n<h2>Financial services giant Citigroup is drastically reducing headcount in its Chinese tech delivery centres as it restructures its technology operation<\/h2>\n<\/div>\n<div id=\"content-center\">\n<ul>\n<li><i data-icon=\"1\"><\/i><\/li>\n<li><i data-icon=\"2\"><\/i><\/li>\n<\/ul>\n<div id=\"contributors-block\">\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"Karl Flinders\">\n\t\t\t\t\t<\/p>\n<p><span>By<\/span><\/p>\n<ul>\n<li>\n\t\t\t\t\t<a href=\"https:\/\/www.techtarget.com\/contributor\/Karl-Flinders\">Karl Flinders,<\/a><br \/>\n\t\t\t\t\t\t<span>Chief reporter and senior editor EMEA<\/span>\n\t\t\t\t\t\t<\/li>\n<\/ul>\n<p>\n\tPublished: <span>05 Jun 2025 16:47<\/span>\n<\/p>\n<\/div>\n<section id=\"content-body\">\n<p>Citigroup is \u201cstreamlining\u201d tech support operations in China as part of a global restructure, with 3,500 roles set to go.<\/p>\n<p>The finance giant said some of the jobs will be moved, with one commentator suggesting it could join other US companies and shift IT and business support roles to India, where it has existing operations.<\/p>\n<p>IT staff at centres in Shanghai and Dalian will go as part of what the bank describes as its \u201congoing assessment of its global resource deployment\u201d.<\/p>\n<p>The bank also said it wants to reduce the reliance on service providers and their staff. The group\u2019s heavy investments in technology, including significant automation, also mean it can streamline operations.<\/p>\n<section data-menu-title=\"Tech innovation success\">\n<h2><i data-icon=\"1\"><\/i>Tech innovation success<\/h2>\n<p>Marc Luet, president at Citi Japan, North Asia and Australia, said the company\u2019s tech investments are helping it \u201coptimise its global office footprint.\u201d<\/p>\n<p>\u201cCiti has been innovating and investing in new technologies around the world, upgrading our digital systems and continuing to simplify our processes,\u201d he <a href=\"https:\/\/mp.weixin.qq.com\/s\/QxSLIva4tvno1CwbI2SNWQ\">said in a statement<\/a>. \u201cThere is still work to be done. Many of our efforts are already bearing fruit in helping to improve work, people efficiency and optimise the size of our global office footprint.\u201d<\/p>\n<p>The job reductions will begin in the fourth quarter of this year. The US finance giant will then reduce the size of its offices in Chinese centres accordingly.<\/p>\n<p>\u201cThis is a continuation of Citigroup\u2019s global office integration. Citigroup has previously carried out similar office space reduction work due to reduced employee numbers in several locations in the US, Indonesia, the Philippines and Poland,\u201d said a statement from the bank.<\/p>\n<p>Large financial services groups use global delivery networks, which tap into deep talent pools at lower costs in countries like India and China, to support the business. This gives them flexibility to shift workloads to different delivery centres.<\/p>\n<\/section>\n<section data-menu-title=\"Indian option\">\n<h2><i data-icon=\"1\"><\/i>Indian option<\/h2>\n<p>Peter Schumacher, CEO of management consultancy The Value Leadership Group, which specialises in outsourcing, said it is possible that many of the jobs will move to India, where Citigroup has over 30,000 staff.<\/p>\n<p>\u201cOther US firms have moved jobs from China to India, including IBM. Finance firms like Citi, JP Morgan Chase, Morgan Stanley, Wells Fargo, and other US banks have extremely large and strong centres in India,\u201d he added.<\/p>\n<p>He said Citigroup is in the process of increasing the proportion of work being done by in-house teams. \u201cThis underscores the confidence they have in their centres. In our strategy sessions with businesses, we have been hearing that India is evolving into a strategic platform for new competitive advantages and a launch path for business innovations. Many executives now place India on a par with China in terms of importance.\u201d<\/p>\n<p>Citigroup\u2019s Luet said the company is still committed to China. \u201cCiti has a 123-year history in China, and China has always been an important part of Citi\u2019s global network and business development,\u201d he said. \u201cWe will continue to firmly serve corporate and institutional clients in China, including local companies and subsidiaries of international companies in China, and serve their cross-border banking needs.\u201d<\/p>\n<\/section>\n<\/section>\n<section id=\"DigDeeperSplash\">\n<h4>\n\t\t\t<i data-icon=\"m\"><\/i>Read more on IT for financial services<\/h4>\n<ul>\n<li><a id=\"DigDeeperItem-1\" href=\"https:\/\/www.computerweekly.com\/news\/366542476\/Software-spending-grows-fastest-as-finance-firms-spend-652bn-on-tech-in-2023\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero 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srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/india-map-pin-fotolia_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/india-map-pin-fotolia.jpg 1280w\" alt ><\/p>\n<h5>New India \u2013 the next global tech magnet<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Russ_Shaw_contributor.jpg\" alt=\"RussShaw\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Russ\u00a0Shaw<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-3\" href=\"https:\/\/www.computerweekly.com\/news\/252524816\/Mistakenly-transferred-504m-to-be-returned-to-Citigroup\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/German\/article\/erase-mistake-fotolia_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/German\/article\/erase-mistake-fotolia_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/German\/article\/erase-mistake-fotolia.jpg 1280w\" alt ><\/p>\n<h5>Mistakenly transferred $504m to be returned to Citigroup<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-4\" href=\"https:\/\/www.computerweekly.com\/news\/252501119\/Credit-Suisse-to-recruit-more-than-1000-tech-staff-in-India\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero Images\/map-india-clrcrmck_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/map-india-clrcrmck_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/map-india-clrcrmck.jpg 1280w\" alt ><\/p>\n<h5>Credit Suisse to recruit more than 1,000 tech staff in India<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<\/ul>\n<\/section>\n<\/div>\n<p><a href=\"https:\/\/www.computerweekly.com\/news\/366625432\/Citigroup-cuts-thousands-of-staff-at-China-based-tech-centres\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Tomi Howe<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial services giant Citigroup is drastically reducing headcount in its Chinese tech delivery centres as it restructures its technology operation By Karl Flinders, Chief reporter and senior editor EMEA Published: 05 Jun 2025 16:47 Citigroup is \u201cstreamlining\u201d tech support operations in China as part of a global restructure, with 3,500 roles set to go. The<\/p>\n","protected":false},"author":1,"featured_media":853926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[250,46,598],"tags":[],"class_list":["post-853925","post","type-post","status-publish","format-standard","has-post-thumbnail","category-citigroup","category-technology","category-thousands"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/853925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=853925"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/853925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/853926"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=853925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=853925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=853925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}