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Citigroup cuts 200 to 300 jobs: WSJ

Citigroup has cut 200 to 300 jobs, or about 2 percent of its global markets workforce, The Wall Street Journal reported citing a person familiar with the matter.

The bank is tightly managing expenses and "making targeted head count reductions in light of current market conditions,'' the Journal quoted a company spokeswoman.

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Steve Prince, the younger brother of former Citigroup Chief Executive Charles Prince, was among those who lost their job, the report said.

Scott Eelis | Bloomberg | Getty Images

Current CEO Mike Corbat will talk to investors on Monday after the bank reports its first-quarter earnings.

The U.S. Federal Reserve said on March 26 that it had rejected Citigroup's request to boost its dividend and buy back more shares.

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The news was a stinging blow to Corbat, who was charged with improving the bank's relationship with regulators in October 2012, when he was named CEO.

By Reuters

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