Help Sitemap Home Skip Navigation Contact Us Disability Statement

Endinburgh Council
 
 
Wednesday, 4th November 2009 Change Date Latest Issue

Citigroup plan to shift Capital jobs to Poland

Click on thumbnail to view image
Click on thumbnail to view image
Click on thumbnail to view image
Click on thumbnail to view image
Click on thumbnail to view image

Published Date: 18 April 2009
AMERICAN financial giant Citigroup is considering moving part of its Edinburgh business to Poland.
In an e-mail to staff, it was revealed that a review of the company's "operating model" had shown that the work of four Edinburgh teams could potentially be moved abroad, to a "centre of excellence" in Poland.

The posts were described as "middle-office" functions, and it is understood less than ten per cent of Citi's 400-strong Edinburgh workforce would be affected.

A full consultation with staff will be carried out by the group.

The news followed the announcement that the group had posted a first-quarter loss of £654 million.

Ron Hewitt, chief executive of the Edinburgh Chamber of Commerce, said: "If detailed compliance jobs of this nature are being shipped to foreign parts, then it's a distinct threat to the importance of Edinburgh as a major centre for financial services."





Page 1 of 1

  • Last Updated: 18 April 2009 10:31 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Scotland's economy
 
1

JT,

18/04/2009 13:49:21
Companies having been doing this for years, 10 years ago it was to India, now its Poland's turn. Perhaps if labour stopped sending abusive emails and bring their noses out of the troughs then they will realise that thanks to them this country is going down the pan and surprise us all and do something about it.
2

me150,

18/04/2009 15:29:55
This is a business decision to cut costs, nothing to do with the Government!!

About time you lot stopped blaming everything on the Government.

It is looking more and more like you all enjoy being in a recession because it give you something else to point at the government, grow up!!
3

molehill mountain,

edinburgh 18/04/2009 22:17:51
Good old globalism at work.It'll only end when we all start taking some protectionist measures.I wonder why these people who are so against it seem to have the most to loose.
4

Silence of the Yams,

20/04/2009 18:08:35
The question is will Standard Life and Aegon (the two clients) tolerate this? They should be making big noises against this as Citi are going to try and move the entire third party administration away from Edinburgh.

2. It's got a lot to do with the UK government creating this lose lose lose for the UK, EU expansion.

5

Silence of the Yams,

20/04/2009 18:08:49
It stinks!
6

,

21/04/2009 10:41:29
Comment Removed By Administrator
Reason:
7

,

20/07/2009 02:54:42
Comment Removed By Administrator
Reason:

 

Comment on this Story

 

In order to post comments you must Register or Sign In

 
 
RSS Feed of this article's comments
Delivery formats: RSS, Atom, Javascript & Email
 
  

 
 


Sister Newspapers:
Press Complaints Commission

This website and its associated newspaper adheres to the Press Complaints Commission’s Code of Practice. If you have a complaint about editorial content which relates to inaccuracy or intrusion, then contact the Editor by clicking here.

If you remain dissatisfied with the response provided then you can contact the PCC by clicking here.