ING will be cutting its Dutch workforce by 1,700 full-time equivalents (FTEs) over a three-year period in a bid to refocus its retail business. The job cuts are expected to yield annual gross savings of approximately $336.5 million (€270 million) starting in 2018, say bank officials. The cost of the layoffs will require a pre-tax… Read More >>
CME Group to Slash 150 Jobs
CME Group is cutting its global workforce by five percent or approximately 150 positions, officials say, adding that the layoffs are part of a restructuring effort. Most of the job cuts will come from the exchange company’s technology division although there are cuts to come from corporate and administrative functions, officials add. “Our industry has… Read More >>
Will Ops Cuts Follow Front Office Layoffs?
Traders on Goldman Sachs’ fixed income, currency and commodities (FICC) desk are likely to be the latest victims of the post-financial crisis reality of a steep downturn in FICC trading profits, according to recent media reports. That reality has coincided with similar cuts at many of the world’s largest banks in recent years, and will… Read More >>
