Distressed financial behemoth Citigroup, resuscitated by a new $20 billion capital infusion in a series of bailout measures by the U.S. federal government, has plans for repositioning of its global operations and would likely hire 1000 new employees next year largely to augment Citibank’s call center and financial reporting units in the Philippines, according to the Manila Standard Today.

Deutsche Bank is planning a similar move to expand its presence in the Philippines to support its global operations as an outsourcing hub, which will account for 60-70% of its total offshoring business. Next year, the European bank expects to create 900 new jobs to add on to the company’s current 1600 head count in the Philippines, reported MarketWatch quoting a Philippine Daily Inquirer article.

In 2004, Deutsche Knowledge Services (DKS) was set up as a regional outsourcing hub in the Philippines by Deutsche Bank and is one of the bank’s two professional service centers in Asia, with the other located in India. The CEO of DKS said that Deutsche Bank has already migrated over 30% of its global processes to offshore hubs and intends to increase that to 80%.

A week ago, Citigroup had announced plans to shed more than 50,000 jobs worldwide in the biggest round of layoffs since the global crisis began. India was also not spared the axe with about 1000 job cuts in the pipeline as reported by the International Business Times. Citigroup had agreed last month to sell its Indian back-office unit Citigroup Global Services Ltd (CGSL) to Tata Consultancy Services for $505 million.

The Philippine government’s top economic officials had said the economy was not likely to be adversely affected by the financial crisis in the U.S. and in Europe. The country’s services sector, which includes the still growing business process outsourcing (BPO) sub-sector, is likely to have grown 4.1-4.9% in the third quarter.