Citigroup ($C@US) has been placed on what many are calling a “turnaround strategy” by CEO Jane Fraser. The plan is designed to make the company profitable and bring it back in line with its peers on the market. Charges associated with closures across the globe should include payouts to employees, but the bank cannot estimate the total amount of the charges at this time. The bank plans to divest from South Korea, Australia, Bahrain, China, India, Indonesia, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. Citigroup stock rose nearly 1% as the news broke.