Citigroup to Take $1 Billion Charge, Eliminate About 11,000 Jobs

Citigroup to Take $1 Billion Charge, Eliminate About 11,000 Jobs

Peter Foley/Bloomberg

Citigroup Inc., 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.