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Citi to Exit Retail Banking in 13 Markets Across Asia, Europe
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Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and stock price. Mark Mason, Citigroup CFO, joins ‘Closing Bell’ to discuss the firm restructuring. About 20,000 employees will be let go over the “medium term,” according to a Citigroup slideshow tied to fourth-quarter earnings. While it wasn’t immediately clear how long that is, the bank has previously used that term to denote a three- to five-year period. Read more at the #linkinbio. #cnbc
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