Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Exchanges

09:43 AM
Reuters
Reuters
News
Connect Directly
RSS
E-Mail
50%
50%

CME Group Cuts Staff, Plans 'Exit Incentive Plan'

CME Group, whose first-quarter profit missed Wall Street expectations, said Thursday it has cut staff and plans more slimming this year as it tries to reduce costs and shore up income.

CHICAGO, April 26 -- CME Group Inc, whose first-quarter profit missed Wall Street expectations, said Thursday it has cut staff and plans more slimming this year as it tries to reduce costs and shore up income.

"We continue to look for efficiencies wherever we can," Chief Financial Officer James Parisi said on a conference call.

The company cut 35 employees in the first quarter, bringing its headcount to 2,702, he said. The company also plans a "voluntary exit incentive plan" for a select group of employees, but Parisi did not provide details on how much money that would save or how many people would be affected.

(Reporting by Ann Saphir; Editing by Gerald E. McCormick)

Register for Wall Street & Technology Newsletters
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.