Citigroup is “streamling” tech support operations in china as part of a global restructure, with 3,500 roles set to go.
The finance giant said some of the jobs will be moved, with one commentator suggesting it could join other us companies and shift it and business support roles to India, with our existing operations.
It staff at centers in Shanghai and dalian will go as part of what the bank describes as its “Ongoing Assessment of Its Global Resource Development”.
The bank also said it Wants to Reduce The Reliance on Service Providers and their Staff. The group's Heavy Investments in Technology, Including Significant Automation, also mean it can streamline operations.
Tech innovation success
Marc Luet, President at Citi Japan, North Asia and Australia, said the company's tech investments are helping it “Optimise its its global office footprint.”
“Citi has been innovating and investment in new technologies Around the World, upgrading our digital systems and continuing to simplife our processes,” he Said in a statement“There is still work to be done. Many of our efforts are alredy bearing fruit in help in help work, people efficiency and optimise the size of our global office FootPrint.”
The job Reductions will begin in the fourth Quarter of this year. The US Finance Giant will then reduce the size of its offices in chinese centers accordingly.
This is a continuation of Citigroup's Global Office Integration. Indonesia, The Philippines and Poland, “said a statement from the bank.
Large Financial Services Groups Use Global Delivery Networks, which tap into deep talent pools at lower costs in counters like India and China, to support the business. This Gives them Flexibility to Shift Workloads to Different Delivery Center.
Indian option
Peter schumacher, CEO of Management Consultancy The Value Leadership Group, which specializs in outsourcing, said it is posesible that many of the people of the jobs will move to india Staff.
“Other Us Firms Have Moved Jobs from China to India, Including IBM. Finance firms like Citi, JP Morgan Chase, Morgan Stanley, Bells Fargo, and Os Banks Have Extremely Large and Strong Center India, “He added.
He said citigroup is in the process of increasing the proportion of work being done by in-House teams. “This underscores the confidence they have in his center. Launch Path for Business Innovations. Many executives India on a par with china in terms of important. “
Citigroup's Luet Said the company is still committed to China. Citi has a 123-yar history in China, and china has always been an important part of Citi's Global Network and Business Development, “He said. “We will continue to firmly serve corporate and institutional clients in China, Including Local Companies and Subsidiaies of International Companies in China, and serve their crust-border banking.”