Citigroup plans to axe hundreds of jobs as revenue declines

Citigroup is preparing hundreds of job cuts at its slumping trading division as more of the world's largest firms respond to dormant clients with layoffs. Banks across Wall Street posted almost uniform falls in their revenues from their trading businesses in the second quarter of the year, as low levels of client activity and low interest rates hit performance. The New York-based bank plans to slash jobs across its fixed-income and stock-trading operations over the course of 2019, according to people familiar with the matter, Bloomberg reported. That includes at least 100 jobs in t...