06:57 AM EDT, 05/16/2025 (MT Newswires) -- Citigroup ( C ) is cutting up to 200 IT contractors positions in China, Reuters reported Friday, citing two people familiar with the matter.

About 100 of the employees were told their contract will not be renewed and another 100 or so were cautioned that they would likely be terminated, the report said.

Reuters described the cuts as a part of an attempt by the bank to hire its own staff for the roles to meet regulatory requirements.

Citigroup ( C ) did not immediately reply to MT Newswires' request for comment.

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