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Citigroup Looks To Hire Over 4K Tech Specialists To Tap Pandemic Induced Digital Boom

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  • Citigroup, Inc (NYSE: C) looks to hire over 4,000 tech staff to help shift its institutional clients online following the pandemic, Bloomberg quoted from an interview with Jonathan Lofthouse.

  • The head of markets and enterprise risk technology acknowledged that over 1,000 recruits would join the market technology team under an aggressive growth strategy. It was a growing trend seen amongst banks in their quest to make services available remotely for both clients and workers,

  • Lofthouse acknowledged the digital explosion across industries encompassing the delivery of groceries delivered to binge-watching Netflix, Inc (NASDAQ: NFLX), which continued during the pandemic recovery.

  • Also Read: How The COVID-19 Pandemic Turned Amazon, Netflix Into Essential Businesses

  • Citi aimed to digitalize most of its client experience as possible, front and back, and modernize its technology for a competitive advantage, ultimately boosting returns.

  • The banking and broader job market mostly chased data specialists.

  • Lofthouse expected training and flexible working models would help retain the employees.

  • Price Action: C shares traded higher by 0.30% at $51.49 on the last check Monday.

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