Reported 2 days ago
Citi will reduce its workforce by approximately 3,500 positions at its technology centers in Shanghai and Dalian as part of a global restructuring plan aimed at simplifying operations and enhancing risk management and data governance. The layoffs are expected to be completed by the beginning of the fourth quarter of this year, with some roles being relocated to other Citi tech centers. This move follows a broader effort to cut staff globally and shift from contractor reliance to hiring permanent employees in IT.
Source: YAHOO