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Citi Shares Rise After Announced Layoffs

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I gotta go to nick called a city.

And the that bank is basically announced that the company and what 111000.

Positions fail repositioning.

The company -- -- all the -- what's with the stock.

This stock is moving significantly it's up about 4% stored and they -- the banking index is higher but Citigroup announcing 111000.

Job cuts that's about 4%.

Of the workforce is savings will be.

Roughly one point one billion dollars they will be taking -- some pretax charges.

-- -- the fourth quarter earnings of a billion but this is basically reducing access.

And we should out this the first soon.

-- -- new CEO Michael -- back everybody had been waiting to see how when he would reduce access and do exactly that.

And -- you can stock up four and a quarter so it's all right thanks so much -- the call.