Citigroup announced it will cut 11,000 jobs as part of plan to trim costs, the first major initiative from the bank's new CEO, Michael Corbat. The bank will also take a $1 billion pre-tax charge during the fourth quarter, and approximately $100 million in related charges during the first half of 2013 as part of the plan, which is expected to save $900 million in 2013 and more than $1.1 billion annually beginning in 2014. The changes will also impact the bank's revenue .. but not enough to outweigh the benefits of the cost cutting. Citigroup said the moves should lead to a reduction of less than $300 million in revenue a year annually. "These actions are logical next steps in Citi's transformation," said Corbat, who took the helm after former CEO Vikram Pandit stunned investors when he announced his immediate departure in mid-October. Citigroup has already begun making the layoffs, but expects them to continue throughout 2013. While the cuts are "fairly comprehensive," impacting the major…