CME Group to lay off 3% of its workforce, reallocate positions By Reuters

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<span>© Reuters. FILE PHOTO: CME Group Inc logo is seen displayed in this illustration taken April 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo</span><br />
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<p>(Reuters) – CME Group (NASDAQ:), the world’s largest derivatives exchange, eliminated about 100 positions, or 3% of its workforce, this week while reallocating some positions, a spokesperson said on Friday.</p>
<p>“The company plans to reallocate the majority of those positions to new, cloud-focused technology roles,” the spokesperson said in an emailed statement, adding that the overall headcount will remain the same. </p>
<p>The spokesperson declined to comment on how many people would be reallocated or whether CME will hire additional people to maintain headcount.</p>
<p>The 125-year-old exchange and clearinghouse operator joins major Wall Street banks in cutting headcount after two regional U.S. lenders collapsed in March, the industry’s biggest crisis since 2008.</p>
<p>After positive quarterly results in April, Chief Executive Officer Terry Duffy cited “shifting perceptions about the Fed’s near-term rate path as well as significant banking concerns in March.”</p>
<p>Chicago-based CME operator is to announce second-quarter results on Wednesday. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/cme-group-to-lay-off-3-of-its-workforce-reallocate-positions-3131511">Source link </a></p><p>The post <a href="https://forextraderhub.com/cme-group-to-lay-off-3-of-its-workforce-reallocate-positions-by-reuters.html">CME Group to lay off 3% of its workforce, reallocate positions By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>