Employment News
Citigroup to Outsource 500 Jobs
By Erik Even | Dated: 07-16-2009
Citigroup will outsource the core processing elements of its receivables management business to First Data, eliminating 500 Citigroup jobs.First Data will offer jobs to all of Citigroup’s employees in the unit, and will sublease Citigroup’s processing facilities.
Denver, Colorado’s First Data is owned by private equity firm Kohlberg Kravis Roberts & Co.
Citigroup is a major financial services company based in New York, New York. Citigroup was formed from one of the world’s largest mergers in history, combining banking giant Citicorp and financial conglomerate Travelers Group in 1998.
Citigroup is the world’s largest financial services network, spanning 140 countries with 12,000 offices worldwide. The company employs 300,000 staff around the world, and holds over 200 million customer accounts in more than 140 countries.
Related posts:
Career Connect (From our other career blogs):
- Employment News (Sponsored by EmploymentSpectator)
- Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
- Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
- Layoff News (Sponsored by LayOffWatch)
Testimonial of the Week
I was facing the seven-year itch at my previous workplace. Thanks to EmploymentCrossing, I'm committed to a fantastic sales job in downtown Manhattan.
- Joseph L New York, NY
Sign Up now
Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.
- We have more jobs than any other job board.
- We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
- We collect jobs from more than 4,429,376 websites and post them on our site.
- We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.
