Per CNBC
Citigroup, based in New York, is cutting 50 trading personnel. The firm is also cutting dozens of banking roles.
Barclays, based in London, is cutting 200 positions across its banking and trading desks.
CNBC says this move is an example of the annual ritual of what has defined Wall Street life, cutting workers deemed underperformers. Goldman Sachs already laid off hundreds of employees in September.
Credit Suisse confirms it is cutting 2,700 employees in Q4 and plans to let go of 9,000 positions by 2025.
