The cuts continue a pattern set by former CEO Vikram Pandit. (Creative Commons)

According to the Washington Post, the bank did not say how many of those jobs would be U.S.-based, but did say it wants to focus on 150 cities around the world "that have the highest growth potential in consumer banking." That's bad news for Pakistan, Paraguay, Romania, Turkey and Uruguay, where operations will be sold or significantly cut back.

Citi stock saw a boost, ostensibly in response to the announcement, up 4 $1.48 to $35.77 by midday.

The Post called the cuts a "bold early move" by new CEO Michael Corbat, who took over for Vikram Pandit in October. "We have identified areas and products where our scale does not provide for meaningful returns," Corbat said in a statement Wednesday.

Read the full story here, and more of Neon Tommy's Citigroup coverage here. 

Reach Executive Producer Catherine Green here. Follow her here.