PTI reports World's largest financial services firm Citigroup Inc today said it will eliminate 17,000 jobs or nearly five per cent of its global workforce, even as it plans to move 9,500 positions to India and other low-cost locations.
The company could move a large chunk of its jobs -- which could be in the range of 5,00-8,000 -- to India, especially for equity research, investment banking and back-office transaction-related activities, sources close to the developeent said. The total number of jobs to be eliminated equal more than half of the total number of positions Citigroup added to its workforce in 2006.More than 9,500 jobs will be moved to lower-cost locations, both domestically and internationally, the company said.
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