Tuesday, November 25, 2008

10,000 Jobs in Australia & 1,000 Workers for Citigroup

I was quite elated upon hearing 10,000 and one thousand more jobs for Filipino workers needed locally and abroad. This is exciting and stimulating news after a back to back announcement of laid-off and company bankruptcy. Despite of the job cuts being announced worldwide due to financial trouble experienced by labor intensive companies, Filipino workers are being sought and relied upon to man the offices of recuperating economies of the world. And the Philippines is riding out of the crisis.

Sipping a hot and aromatic barako coffee -considered superior to Robusta and Arabica varieties- I glanced with eagerness the early local TV morning program, the “Umagang Kayganda” of ABS-CBN, announcing the 10,000 jobs for Filipino workers in Australia. Interestingly glued to the program, I waited fifteen minutes for the details of the job announcements but it’s just an upbeat statement. I too become optimistic, lingering in my thought that this will be a big boost to overseas job-seekers who are already losing hope to be gainfully employed. Unemployment is a nightmare to workers unable to land a job and a bailout approval of ailing institutions will be a sure job generating cure.

Switching my computer on and searching the internet, I arrived at Pinoy Bloggers Society site. And a glaring article “Citigroup to hire 1,000 workers in Philippines” grabbed and revitalized further my curiosity thereby expounding more on the implication of demand and uniqueness of the Filipino workers. Citigroup will require more Pinoy workers early next year in its call center and financial reporting operations in the Philippines. The Manila Standard Today reported that:

“Citigroup Inc. will have $306 billion of troubled mortgages and toxic assets guaranteed by the US government under a federal plan to stabilize the bank after its stock fell 60 percent last week. Citigroup also will get a $20-billion cash infusion from the Treasury Department, adding to the $25 billion the bank received last month under the Troubled Asset Relief Program.”

With this development the said bank is breathing new life into its system and specifically requires Filipino workers. There are questions as to why Filipinos are being hired and why is it in the Philippines where Citigroup planned to expand its overseas operation. And there are good and unfair comments as to the demand of Filipino workers but as Citigroup's country business manager Mark Jones was quoted as saying: "There's a whole lot of activity moving in the Philippines as we grow our businesses. Citi is moving more equity in the Philippines. If you look at the business, we're repositioning globally."

Despite of the mud being painted by the bunch of opposition groups, the Philippine government is remarkably outpacing its Asian neighbors in overcoming the onslaught of the world economic depression. And I am proud to be a Pinoy!

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