layoffs
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Citi to Cut 3,500 Tech Jobs in Shanghai and Dalian, Offering up to N+6 Compensation
Citi is restructuring its technology teams in Shanghai and Dalian, China, leading to approximately 3,500 job cuts. The bank reportedly communicated separation details on June 5th, with compensation exceeding statutory requirements. While the packages may not match those of other multinationals like Microsoft, they are still notably more generous than typical Chinese business severance.
