Roughly half of the 52,000 had been previously announced, including 18,000 jobs with the sale of its Indian outsourcing operations and more than 5,000 at its German banking franchise.

On Monday, Citigroup said it expected to layoff another 17,000 employees and shed as many as 7,000 jobs from future business divestitures. Although the actual layoffs may not come until early next year, those employees will be notified in the coming weeks. The bank has already cut about 23,000 jobs this year.

Overall, Wall Street firms have announced more than 150,000 job cuts worldwide. While the banks have not disclosed how many of those jobs are in New York, the brunt of the impact is thought to have fallen on the New York area. According to an analysis of federal payroll data by Moody’s Economy.com, some 579,000 people in the New York metropolitan area worked in finance at the end of the second quarter.

However dismal the outlook for Wall Street workers appeared at the end of the third quarter, the situation has gotten worse than most predictions. At the beginning of September, Moody’s Economy.com had predicted that 45,000 to 65,000 financial workers in the New York area would lose their jobs by the middle of 2010.

Now Moody’s is predicting 70,000, even accounting for the fact that some workers would find new positions.

To read this complete Fred Harteis News Article visit our news partner at;