Home News Citi Asia Pacific to Offer 6,000 Jobs and 60,000 Job-Skills Training Opportunities for Youth Over the Next 3 Years

Citi Asia Pacific to Offer 6,000 Jobs and 60,000 Job-Skills Training Opportunities for Youth Over the Next 3 Years

Citi Asia Pacific to Offer 6,000 Jobs and 60,000 Job-Skills Training Opportunities for Youth Over the Next 3 Years

Citi Asia Pacific and the Citi Foundation today announced a collective commitment of US$35 million in philanthropic investments to advance economic opportunities and employability for youth from low-income and underserved communities in the region by 2023. In addition, the bank will offer 6,000 jobs and 60,000 job skills training opportunities for young people at Citi Asia over the next three years.

This initiative is designed to equip young people with the skills and confidence to improve their employment and entrepreneurship opportunities and make a positive impact in their lives and their communities in rapidly changing economies, Citi said in a statement.

The increased commitment is in response to the impact of COVID-19 on youth employment in the region. According to the International Labor Organization (ILO), Asia Pacific is home to more than half of the world’s youth population, with 700 million youth aged 15 to 24 years. While they represent 20 percent of the total working-age population, this youth segment accounts for almost half of the Asia Pacific’s jobless. The pandemic and resulting economic crisis have further challenged this issue. Projections through the end of 2020 in 13 countries show sizable jumps, with youth unemployment rates doubling the 2019 rate in some cases.

“Communities in the Asia Pacific are facing a youth unemployment crisis, especially among low income and underserved groups, due to the impact of COVID-19. Young people are key to Asia Pacific’s COVID-19 recovery and this investment will help them advance their economic opportunities and support inclusive growth in the region,” said Peter Babej, Citi’s Asia Pacific CEO.

On its employment and training, Citi has committed to over the next three years to offer 6,000 jobs and 60,000 skills training opportunities across Citi’s retail and institutional businesses in the Asia Pacific through its summer internship program, full-time analyst and associate roles, on-campus programs, and opportunities with Citi University Partnerships in Innovation & Discovery (CUPID) Program.

Citi Foundation grant investments will focus on programs that serve low-income and underserved communities who have been disproportionately impacted by COVID-19, including young women at risk, migrant youth, minorities, and youth with disabilities.

Eskalera, a Startup Led by Goldman Sachs’ Former HR Head Has Launched a Diversity and Inclusion Index

Eskalera, a technology startup led by Goldman Sachs former human resources head Dane Holmes, has launched an index to measure corporate diversity and inclusiveness,...

HSBC to Remove 35,000 Jobs Amidst Covid-19 Crises

HSBC Holdings Plc has restarted cutting as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul...

Genpact Offers Its Internal Skill Training Program Globally for Everyone

Genpact has announced Adapt and Rise, a role-based online learning platform that leverages Genpact's expertise honed from delivering real-world change for hundreds of clients....

San-Francisco Based Learning Platform Degreed Has Raised $32 Million in New Funding

The upskilling platform, Degreed, has announced $32 million in new funding in direct response to overwhelming demand for better skill insights, talent mobility, and...

Research Shows the Implications of Workplace Layouts on Employee Productivity and Overall Performance

As some workplaces prepare for the gradual return of employees and overhaul office layouts and seating plans, research has shown this could also have...

Employee Concierge ‘Back Technologies’ Integrates Automation Into Internal HR and Other Support Tasks

Companies are under increasing pressure to automate workflows and digitally service their employees, particularly in light of trends toward remote work. It takes an...

HR Strategies to Help Your Business Navigate the New ‘Normal’

No business is immune to the massive changes resulting from the health crisis. Organizations have proven themselves to be agile, and employees have demonstrated...

The Importance Of Diversity And Inclusion In HR, Hiring, Talent Management: Thoughts From A Top Expert

Michael C. Hyter is one of today’s best-known experts on inclusion and diversity and the author of The Power of Choice: Embracing Efficacy to Drive Your Career and The...

HR Expert Highlights Actionable Steps to ‘Make Real Change’ Against Racism in Your Workplace

Kyra Leigh Sutton, Ph.D., is a faculty member at the Rutgers University School of Management and Labor Relations, where she teaches human resources courses...

Adidas Employees Want Company to Investigate HR Chief for Response to Racial Issues

A group of Adidas employees from around the globe is asking the company to investigate its chief human resources officer, as part of a...