Citigroup to hire up to 7,500 in China: report

[boomerbust]

Source: reuters

NEW YORK (Reuters) - Citigroup Inc plans to almost triple its workforce in China by hiring up to 7,500 people in the next three years, an executive told Bloomberg in an interview published on Tuesday.

Citigroup, which has 4,500 employees in China, will hire more in that country that in any other Asia-Pacific market, according to Bloomberg's interview with Stephen Bird, Citigroup's co-chief executive officer for the region.

The hiring plans will support Citigroup's efforts to expand in the region and compete with HSBC Holdings PLC and Standard Chartered PLC .

Bird told Reuters last week that Citigroup planned to open two branches a month on average in China for the foreseeable future, the maximum allowed by regulators


Read more: http://articles.moneycentral.msn.com/news/article.aspx?Feed=OBR&Date=20100901&ID=11981649&Symbol=C&vv=800

[geek tragedy]

1. Most of Citigroup's assets are outside of the US

So this shouldn't be surprising.

[TBF]

2. I'm glad our tax dollars are creating jobs somewhere. nt

[ixion]

3. And we bailed them out because?

for the life of me, I couldn't tell you why.

[davidwparker]

4. How many DU readers have accounts at Citigroup?

Move your money.

[Cassandra]

19. I do.

If I could figure out where to move it to that isn't equally bad, I would.

[davidwparker]

20. Try a credit union. My link points to information for

locating some.

I have enjoyed my local credit union. I only have my mortgage, left. When my house value comes back enough to put me over 20%, I shall move that too.

The bill pay service is better with the CU than it was with my bank.

[Yeahyeah]

24. Cemeterigroup their ass.

[UpInArms]

5. US taxpayer dollar funded

I spit in Shitibank's general direction

[melm00se]

6. in citigroup's defense

How many Americans have the language skills necessary to assist Citi's customers in the Asia-Pac market?

Chinese (multiple dialects), Japanese, Thai, Vietnamese etc?

unless of course you can see some one in, say, St Louis answering the phone and saying (in whatever language with an accent): This is Mei Chen (real name Linda Skandlowski), how may I help you today?"

[pattmarty]

7. In this one, Citi doesn't have a defense. Cancel their US business........

........charter and prohibit them from doing business in the US, Oh and make sure they pay back the fucking "loans" with interest before the door hits them in the ass.

[melm00se]

8. how do you feel

about any multinational business?

[pattmarty]

9. Simple. If it is "harmful" to the "people" of the US, they don't get a fucking........

.........US charter.

[melm00se]

12. Citigroup

from an american POV Citigroup came into existence in 1812 and they grew into a multinational company.

[AndyA]

10. CitiGroup is indefensible.

CitiGroup holds the world record of making the second largest job cut in the world - reportedly firing more than 52,000 employees across the globe, of which almost half were in the U.S. The previous record was at IBM, which laid off 60,000 people in 1993.

Former and current Citi employees say the place sucks as an employer.

I'm here in America, and I have to talk to someone named Bernice with a very strong Indian accent, who is impossible to understand, so why shouldn't the Chinese have to speak to someone in America?

[melm00se]

11. a lot of folks in India

speak english (albeit some with heavy accents). how many Americans speak Chinese?

[aquart]

15. A fair number of Chinese Americans do.

[AndyA]

16. A lot of folks in India speak english because the U.S. government has spent

millions training them to do so, so that employers can ship good American jobs overseas so they can pay their CEOs billions in perks each year by cutting employment costs.

Not too long ago here at DU, we were discussing a multi-million dollar overseas training program, approved by Obama to help offshore American jobs.

Are there any programs here in American that teach Americans how to speak Chinese?

[Starbucks Anarchist]

23. You have no idea what the hell you're talking about.

Starting with my Indian parents' generation roughly 60 years ago, the majority of Indians are taught three languages -- Hindi (national language), English (universal language) and the language of their particular state/region.

If you go to any Indian city, there will be signs in English and they've been there for decades. Of course, British influence had a lot to do with it, but it's not like you'd have a grasp of history or anything. Besides, it's very difficult for an adult to learn a new language, so your wacky idea doesn't even hold water.

[aquart]

14. If you knew them better you would feel sorry for the Chinese.

These bastards are criminal to the bone.

[w4rma]

21. Screw defending those parasites. Besides, don't they owe Jewish families for funding the Nazis? (nt)

[cap]

22. but we have that already in call centers serving US customers

Just give our unemployed a script and teach them the sounds.... If it's good enough for the likes of us consumers here in the US, how can you even think that the Chinese can complain?

:)

[SOS]

13. Corporations don't care about US jobs

They are in a race to the bottom for the lowest wages on the planet.

Intel;s CEO Paul Otellini speaking recently at the Aspen Forum of the Technology Policy Institute:

"Jobs will not be created here."

Looking to US-based multinational corporations for jobs is a fool's errand.

[prolesunited]

17. I guess I have to relocate to a foreign country

to land a job. The problem with globalization is that it necessitates Americans being brought down to the living standards of other countries. As they lower their level of poverty, ours grows.

[xchrom]

18. plus 1