Citigroup Announces 3,500 Tech Job Cuts Amid Global Restructuring

Citigroup is eliminating 3,500 technology roles, primarily in its information technology services unit, as part of a broader workforce reduction strategy. The cuts impact software development, testing, and operational support functions, with some positions relocating to undisclosed technology hubs.

The MOVE reflects Citigroup's January 2023 plan to slash 10% of its global workforce—approximately 20,000 employees—as CEO Jane Fraser seeks to streamline operations and improve profitability. Similar reductions have already occurred in the U.S., Indonesia, the Philippines, and Poland.

Despite the pullback, Citigroup reaffirmed its commitment to China, with Marc Luet, president for Japan, North Asia, and Australia, stating the bank will continue serving corporate and institutional clients' cross-border banking needs.