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.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.