Making good on a promise to scale back Wall Street-type businesses, Citicorp said Wednesday that it would eliminate 100 jobs in its mortgage securities area.

The move follows a severe downturn in collateralized mortgage obligations. The market peaked at $570 billion of issuances in 1993 and is expected to be half that big this year, according to Junaid Rubbani, managing director and head of capital markets at Citicorp.

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