CEO Charles Prince addressed Citigroup's 22,000 employees in India and noted that future growth will depend heavily on international expansion. India certainly seems like a destination of choice. Prince's tour comes a few weeks ahead of an announcement of a huge restructuring program that will likely involve the loss or relocation of thousands of jobs from pricey locales, such as New York, London and even Hong Kong. The company's corporate and investment banking operations could see as many as 4,000 jobs lost. According to media reports, up to 15,000 total jobs could be affected. The bank aims to save $1 billion. Some wonder if the timing of all this news suggests more outsourcing activity to India, even of higher level financial functions. We'll see.

For more:
- here's the New York Times article