Citi is reportedly cutting 70 sales and trading jobs in London

Citigroup is cutting 70 sales and trading positions in London to make up for disappointing trading revenue.

That’s according to Bloomberg’s Alastair Marsh, Luca Casiraghi, and Donal Griffin, who report the firm is also considering cutting 200 operations and tech jobs throughout Europe.

CFO John Gerspach in March predicted that first quarter revenue in fixed income and trading will likely be down about 15% for the bank.

The firm announced plans to layoff about 2,000 people around the world last year.

Citigroup will announce Q1 earnings Friday morning.

Read the full story over at Bloomberg»

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