Newsmax TV & Webwww.newsmax.comFREE - In Google Play
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
Tags: cme group | jobs | staff | technology

CME Eliminates 3 Percent of Staff, With Half Coming From Technology

Tuesday, 11 August 2015 01:09 PM EDT

CME Group Inc. has eliminated about 3 percent of its employees in the second significant round of job cuts in less than a year at the world's largest futures exchange operator.

Chicago-based CME eliminated about 80 workers on Aug. 6, with about half of the jobs coming from its technology sector, spokeswoman Laurie Bischel said on Tuesday. The rest of the reductions were spread among other functions, she said.

The cuts were part of a "restructuring announced last fall designed to eliminate bureaucracy and improve our ability to serve our global client base more efficiently," Bischel said.

In October, CME, which has been on a cost-savings drive, said it would cut 5 percent of its global workforce, or about 150 jobs.

And last month, CME closed most of its open-outcry futures pits in Chicago and New York.

The company has no more dismissals to announce at this time, Bischel added.

CME expenses in the quarter ended on June 30 were $324.9 million, up 2 percent from a year earlier. They were $660.3 million in six months ended on June 30, up 3 percent from the same period a year earlier.

As of Dec. 31, CME had approximately 2,680 employees, according to a regulatory filing.

© 2024 Thomson/Reuters. All rights reserved.

CME Group Inc. eliminated about 3 percent of its employees, with about half the cuts coming from technology staff.
cme group, jobs, staff, technology
Tuesday, 11 August 2015 01:09 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
Get Newsmax Text Alerts

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved
© Newsmax Media, Inc.
All Rights Reserved