CME Group to Cut 5% of Workforce

October 14, 2014 10:41 AM
 
CME Group to Cut 5% of Workforce

CME Group Inc., the world’s largest futures exchange, said it will cut about 150 employees, or 5 percent of its global workforce, to reduce costs.

“These staffing changes and other expense control measures we have taken internally will result in decreased costs and reduced management layers, and will help ensure the company’s long-term continued growth,” Executive Chairman Terrence Duffy said in a statement today. Most of the employees will be cut this week from technology positions, with the remainder from corporate and administration jobs.

Last month, the Chicago-based exchange owner revamped its executive structure, naming Bryan Durkin to the new position of chief commercial officer, among other changes. Durkin previously served as chief operating officer. CME shares have gained about 6.8 percent in the past year.

 

Back to news


 

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close