Citigroup Inc. (C) is planning to cut up to 200 information technology (IT) contractor jobs in China as part of a strategy to recruit its staff globally, aiming to improve risk management and data governance. This was reported by Reuters, citing people familiar with the matter.Rationale Behind C’s Plan to Cut Jobs in ChinaIn July 2024, Citigroup was fined $136 million by U.S. regulators for failing to make adequate progress in resolving data management issues. The IT restructuring plan highlights C's intent ...