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Report: Citi to lay off 70 traders, salespeople in London

is set to lay off70 traders and salespeople in London in April, Bloomberg News reported April12, citing an anonymous source.

The person alsotold the news outlet that the European region may also see about 200 job cutsat Citi's operations and technology groups.

Citing"people familiar with the matter," the news agency said that Citi islooking to lower costs to compensate for lower trading revenue.

Bloombergsought but did not get a comment from a Citi spokeswoman.