Citigroup to Take $1 Billion Charge, Cut 11,000 Jobs

Citigroup Inc. (C), the third-biggest U.S. bank, said it will take a pretax charge of about $1 billion this quarter as part of a plan to eliminate more than 11,000 jobs. “These actions are logical next steps in Citi’s transformation,” Chief Executive Officer Michael Corbat said today in a statem…

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Citigroup to Take $1 Billion Charge, Cut 11,000 Jobs

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