Exclusive-Citi to cut up to 200 tech contractor roles in China, sources say

HONG KONG (Reuters) -Citigroup is cutting up to 200 information technology (IT) contractor roles in China, two people familiar with the matter said, as the bank looks to hire its own staff globally for such operations to improve risk management and data governance. Last July, U.S. bank regulators fined Citi $136 million for making "insufficient progress" fixing data management issues and the IT revamp underscores Citi's efforts to meet regulatory demands. Around 100 IT staff in China were informed this week that their contracts will not be renewed, and another 100 are likely to receive their termination notices soon, said the people, who declined to be named due to sensitivity of the matter.