Citigroup's Salomon Smith Barney unit said Tuesday it cut 100 employees in equity trading and sales and expects to slash an additional 50 jobs in equity research by the end of the week.

Most of the jobs are in the company's New York headquarters, a spokeswoman said. The firings came after a third-quarter loss of $325 million due to heavy trading losses in Russia and other emerging markets and in bond holdings. Just last week, Salomon cut 100 employees from fixed- income trading, sales, and research.

Monday, Salomon said it would relocate its 10-member Hong Kong derivatives staff to Tokyo and cut some posts there.

- Liz Moyer

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