Citigroup has announced the destruction of over 3,500 tech jobs in China Citi Solution Centers in Shanghai and Dalian. This comes as the most recent move by the major US bank to streamline operations globally and to reduce costs.
Citi claims some of the roles will be moved to its technology centers "elsewhere" - without specifying the number of jobs or specific locations.
https://www.cnbc.com/2025/06/05/citi-plans-...
Citigroup
C
trading on NYSE
since 1986
$92.80
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Citigroup is a global financial services firm offering banking, investment, insurance, and asset management products and services to individuals, corporations, and governments worldwide.
| type | open | high | low |
market cap |
volume |
|---|---|---|---|---|---|
| stock | $95.47 | $96.15 | $93.55 | $176.38B | 14.64M |
| eps | p/e | p/s |
operating margin |
profit margin |
yield |
| +$2.00 | 14.12 | 8.25 | 25.23% | 19.02% | 2.59% |
Without a doubt, "elsewhere" means India.