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Citigroup expedites 2019 cost-cutting plans

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Citigroup expedites 2019 cost-cutting plans

Citigroup Inc. accelerated its 2019 cost-cutting plans by simplifying its organizational structure and making process improvements, CFO Mark Mason said at an investor conference.

The move was made to realize the benefits of those initiatives sooner in 2019, the executive said, according to a transcript.

Mason expects Citi's first-quarter revenue from fixed-income and equities to decrease year over year by high-single-digit percentage.