NEW YORK (Reuters) – Citigroup Inc in the second quarter will book severance costs associated with around 1,600 job cuts, chief financial officer Mark Mason said on Wednesday.
Speaking at a conference in New York, Mason said the bank’s expenses in the second quarter will be $300 million to $400 million higher than the first quarter, “largely attributed to those restructuring or repositioning charges that I had to incur.”
(Reporting by Tatiana Bautzer)