Citigroup to shed $500B in assets

Some might say “ouch” over a 23% reduction in size. But shedding non-core and/or underperforming assets is part of Turnaround 101. I wouldn’t be surprised if CEO Vikram Pandit’s plan works.

Shrinking isn’t necessarily bad.

UPDATE: Forbes – “The bank’s new chief begins the slow, painful job of undoing his predecessor’s work.”

No pain, no gain?

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