NEW YORK (AP) – Citigroup says it will eliminate more than 11,000 jobs.
The bank says it’s looking to cut expenses and improve efficiency.READ MORE: Cowboys Could Have New Look Next Season As Both Coordinators Up For Head Coaching Jobs
The company said Wednesday that the cuts will result in about $1 billion in charges in the fourth quarter and about $100 million in charges during the first half of next year.READ MORE: New Details On Texas Synagogue Hostage Taker Malik Faisal Akram And Possible Accomplices Arrested In England
It expects about $900 million in expense savings in 2013 and annual expense savings of more than $1.1 billion starting in 2014.
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