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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA league, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)

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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)

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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA league, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)

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FILE - In this May 10, 2011, file photo, Dick Parsons, chairman of Citigroup, participates in a discussion at the Hooven Dayton Corp. facility in Dayton, in Dayton, Ohio. The NBA has chosen Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, as interim CEO of the Los Angeles Clippers, the league announcement Friday, May 9, 2014. (AP Photo/Al Behrman, File)

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Citigroup logo (AP Photo/Mark Lennihan)

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Citigroup logo (AP Photo/Mark Lennihan)

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Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi’s workforce of 262,000. The bulk of the cuts will come from the consumer banking unit. (Associated Press)

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Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi’s workforce of 262,000. The bulk of the cuts will come from the consumer banking unit. (Associated Press)

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** FILE ** In a Monday, June 18, 2012, file photo, Citigroup CEO Vikram Pandit prepares for a television interview on the floor of the New York Stock Exchange, after he rang the opening bell. (AP Photo/Richard Drew, File)

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** FILE ** In a Monday, June 18, 2012, file photo, Citigroup CEO Vikram Pandit prepares for a television interview on the floor of the New York Stock Exchange, after he rang the opening bell. (AP Photo/Richard Drew, File)