Citigroup Relocates 1,000 Tech Jobs to India Amid Global Restructuring

Citigroup Inc. has shifted close to 1,000 technology roles from China to India as part of its ongoing global restructuring, according to people familiar with the matter. The move, executed in phases over recent months, aligns with the Wall Street bank’s push to simplify operations worldwide.
The positions have been absorbed into Citi’s business-support hubs in Bengaluru, Chennai, Pune and Mumbai. With around 33,000 employees already based in the country, India remains one of the bank’s largest talent pools, particularly through its Global Capability Centres (GCCs). GCCs have become an integral part of multinational operations, representing a $64 billion market, according to EY.
Citi had earlier announced plans to cut about 3,500 technology jobs in China. Analysts believe more global banks could turn to India for tech talent, especially after the U.S. government recently introduced a $100,000 fee on new H-1B visa applications, significantly raising the cost of overseas hiring.
During her recent visit to India, Citigroup CEO Jane Fraser underscored the country’s strategic importance in the bank’s global technology landscape. She highlighted that artificial intelligence (AI) is reshaping business functions but argued India’s IT sector stands to gain from the transition thanks to its skilled and innovative workforce.
The bank has already deployed AI tools to more than 140,000 employees globally, boosting efficiency, streamlining workflows and fostering innovation. Fraser said these advances have enabled Citi to insource more work, further deepening its reliance on Indian tech teams.
She also reaffirmed the bank’s long-standing partnerships with Indian IT service providers. While the nature of technology roles continues to evolve, Fraser stressed that such collaborations remain central to Citi’s operating model.

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