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Citigroup will cut 3,500 full-time roles at two China tech centers as it revamps global operations to address risks and compliance.

Citigroup Inc (NYSE:C) will cut around 3,500 jobs at its technology hubs in Shanghai and Dalian as part of a broader effort to streamline global operations and strengthen risk and data management. The reductions, affecting mainly full-time roles, are expected to be completed by early Q4 2025.

Citigroup Inc. is undertaking significant adjustments to its operational and policy frameworks, announcing on Thursday a plan to reduce its technology workforce in China by approximately 3,500 employees as part of a broader global effort to streamline its tech operations.

Citigroup Inc will reduce the number of employees at two of its technology centres in China by about 3,500, the bank said on Thursday, as part of its efforts to simplify and shrink its global tech operations to improve risk and data management.

In the latest trading session, Citigroup (C) closed at $76.40, marking a -0.17% move from the previous day.

Citigroup's sweeping business overhaul, including job cuts, market exits and management streamlining, targets $2.5B in annual savings by 2026.

Citigroup said on Tuesday it was dropping a 2018 policy that placed restrictions on offering banking services to retail clients selling firearms.

Citigroup said on Tuesday it was rolling back a 2018 policy that placed restrictions on providing banking services to retail clients selling firearms, citing recent regulatory developments.

Our dividend income dropped by 15% in May. We had Healthpeak Properties change the structure of its dividend. June will be a very exciting month and I cannot wait to see the dividend distributions for our ETFs, especially SCHD.

The president has fueled allegations that banks discriminate on political grounds.