Tuesday, 10 February 2009

Citibank to hire 1,000 more staff in Philippines

PNA with Roderick T. dela Cruz
The Manila Standard
http://www.manilastandardtoday.com/?page=news3_feb10_2009

CITIBANK is hiring 1,000 more people as it expands its Philippine operations this year, country manager Mark Jones said yesterday.

The bank made the announcement even as the business process outsourcing industry predicted that between 100,000 and 110,000 new jobs would be open to new college graduates and those displaced in other industries.

The bank would add the 1,000 to its workforce after hiring another 500 last year, in contrast to Citigroup’s shedding of thousands of jobs worldwide, Jones said in a statement.

“Citi is repositioning in the Asia-Pacific, but we remain focused on growth,” Jones said.

“Instead of reducing the headcount, we will be growing,” he said, adding the extra 1,000 people would man call centers, financial reporting and service centers.

“There’s a whole lot of activity moving in the Philippines as we grow our businesses, and as they grow efficient, Citi is moving more equity here,” Jones said.

He said Citibank would be needing more people here because it was investing more money in systems and building processes.

“2009 is a tough year globally, but we’re certainly prepared for the effects of the economic slowdown,” he said.

“We haven’t really seen its impact on consumers, but we’re preparing for it.”

Citibank has spent P100 million to upgrade its systems, and particularly for Citibank Savings Bank. It plans to spend P3 billion more to improve its online, customer services and other transactions.

The bank has 30 percent of the total credit card market in the Philippines, where it counts 1.2-million credit card holders.

Its savings bank, which it bought from Insular Life in 2005 for P1 billion, operates 56 branches.

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