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A fall in trading revenues makes the economics of providing research less attractive.
Shareholders were shocked by a 70% fall in trading profit in central Europe.
None of Citi's other business units emerged to pick up the slack from the fall in trading revenue.
In December it posted its first loss since going public nine years ago due to a sharp fall in trading and investment banking revenues.
Thousands of permanent staff are also unlikely to get life-changing bonuses, which were linked to profit targets, as the "unseasonable weather" over Christmas was blamed for a fall in trading.
Diageo, the global distiller which dominates the Scotch whisky market, has announced a fall in trading figures for the past three months.
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This will be the first fall in trade flows since 1982.
Banks and financial services companies had the biggest falls in trading.
There will be immediate and significant savings from the fall off in trading volumes.
But if we go for a looser trading arrangement, we lose out much more from falls in trade and foreign investment," he said.
Other banks may see a similar fall-off in trading.
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