Citigroup anticipates cutting 6,000 jobs

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The banking giant has two towers at One and Two Court Square in Long Island City, which house 6,000 of the company's 25,000 employees citywide.

Citigroup was expected to cut an estimated 6,500 jobs from its global network this week, eliminating entire trading desks at city offices, the Journal reported. The round of layoffs was expected to include senior management, the Journal reported.

"Citi indicated earlier this year that it would be resizing this business in response to market conditions and as part of our ongoing re-engineering efforts," the banking company said in a statement.

The expected layoffs follow a $5.1 billion first-quarter loss, the Journal reported.

— Nathan Duke

Updated 6:40 pm, October 10, 2011
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