CitiGroup Announces Corporate Reorganization 

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Citigroup has announced it has reorganized its corporate structure. The company says the changes help simplify the management structure and align it more closely with the business strategy. The CEO says the reorganization helps to quote, eliminate unnecessary complexity across the bank, increase accountability for delivering excellent client service and strength and ability to benefit from the natural linkages that exist amongst our businesses end quote. Now, the changes will reportedly result in job cuts but the company has not said how many positions will be eliminated.