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Hong Kong, China – 2024/06/07: Pedestrian, American multinational investment bank, Citibank or Citi, pedestrians from the branch in Hong Kong.
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Citigroup Said is aimed at adjusting about 3,500 technological positions, global operations in China, to reduce global operations.
The fourth quarter is expected to be reduced to reduce employees in Citi Solution Centers in Shanghai and Sala in China statement.
The affected works are mainly in the field of information technology services that provide software development, testing and operational services and operational services for Citi’s global work.
The company said that some roles are transferred to Citi’s Technology Centers in other places or other places.
Drawing in China comes as Citi continues to work through a extensive plan In January last year, it was declared to reduce 10% of the workforce or about 20,000 employees. The statement was moved to compile and reduce the office in the United States, Indonesia, Philippines and Poland.
“China has always been a global network and business development of Citi.
CEO Jane Fraser was headed by Citi Reconstruction of sweep The improvement is aimed at improving and restoring the investor after the US peers behind the major bank peers.
Citi is not alone in reconstruction operations. A global bank of a large global bank is under fresh pressure to decorate costs in the background To worsen the global economic outlook US President Donald Trump is concerned about the decline in trade of the tariff policy.
Foreign banks, including Citi, can continue to remain in China, because the country’s soft growth prospects reduced banking opportunities, Meng Shen, Beijing Boutique Investment Bank Chanson & Co.
Compressed regulation control for Beijing’s financial services industry can probably create additional uncertainty for Western banks.
Citi’s Luet, but he plans to build completely securities and futures companies in China.
Hang Seng Bank, located in Hong Kong, HSBC’s subsidiary, Reported to be reported last month It was a reconstruction in an action that would cause work loss for about 1% of the “key workers”. Working decrease, HSBC Group CEO was part of the cost cutting driver aimed at reducing costs by CEO Georges Elhedery $ 1.8 billion by the end of 2026.
Hong Kong and Matinland China-focused banks have seen bad loans rose in the last few years due to the highly exposed to China’s problem property sector.
Several Wall Street Banks, including JPMorgan and Bank of America, began the annual process WANTS TO SECURITY. Bank of America has It was reported to have something This year, the investment bank section removed 150 bankers.
Do you re-think Chinese strategy?
Some multinational enterprises are compulsory to rely on the Chinese market, as Beijing’s tension, slow internal demand and local companies increase their intensive competition.
One Business request The American Chamber of Commerce showed the share of US companies to think of US companies in China or a record of a record record or record.
Increasing trade voltage, among European enterprises in China, on Wednesday, Wednesday, on Wednesday, Wednesday, “especially groomed” expectations around Wednesday, “especially groomed” expectations.
Local media reported last month L’Oréal, as the French cosmetic giant giant continues to face slow sales, traveled to half of the retail workforce in China.
German Luxury Karmeyer Mercedes-Benz also plans to cut up to 15% of sales and financial workers in China, Reuters reportedIn an action that will affect about 2000 people working in the research and development units.
The German luxury karmeyer still plans to hold heavy in China to compete in the market dominated by local electric vehicles in the coming years.
