-- Citigroup (C) is stepping back from physical trading in industrial metals and has notified a number of staff from the commodities team about potential redundancies, Bloomberg reported Thursday, citing an employment tribunal in London.
Citi said in a January letter that physical metals trading will no longer be a "core business activity," as the bank warned about 11 employees that they were at risk of redundancy and has let go a number of them since then, according to the report.
Citi did not immediately respond to' request for comment.
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