Nov. 4 (Bloomberg) -- Citigroup Inc., the U.S. bank that got a $45 billion bailout last year, eliminated 175 jobs as it reorganizes credit-card and wealth-management units to reflect shifts in regulations and business strategies.

The credit-card unit cut about 100 positions concentrated in marketing, finance and support functions, spokesman Michael Hanretta said. The wealth-management business cut about 75 financial advisers based in bank branches, mostly in New York and California, he said.

Chief Executive Officer Vikram Pandit has eliminated about 100,000 jobs since he joined in late 2007, reducing the New York-based bank’s headcount by 26 percent as of Sept. 30. This week’s job cuts, relayed to affected employees beginning today, aim to save on personnel expenses following last year’s record $28 billion loss.

“These actions are difficult for everyone involved,” Hanretta said. He cited “ongoing expense management.”

The credit-card unit, led by Paul Galant, is overhauling its organization model to prepare for “current economic and regulatory conditions,” Hanretta said.

Card issuers are bracing for new federal curbs on interest rates and marketing practices imposed after President Barack Obama signed the Credit Card Accountability Responsibility and Disclosure Act on May 22.

Citi Personal Wealth Management, led by Deborah McWhinney, is pushing the bank’s network of branch-based brokers, until now about 600 in number, to shift to charging fee-based advisory services instead of commission-based securities and mutual-fund sales.

To contact the reporter on this story: Bradley Keoun in New York at bkeoun@bloomberg.net

Last Updated: November 4, 2009 17:09 EST