Cboe Global Markets is eliminating about 20% of its global workforce as part of a restructuring aimed at concentrating resources on its core exchange businesses, the company said Friday.
A memo CEO Craig Donohue sent to employees Friday morning, reviewed by The Wall Street Journal, confirmed that layoff notices had gone out to approximately one in five of the company's 1,670 employees around the world. Separately, eligible U.S. and Canadian employees — those 55 or older with at least five years of tenure who did not receive layoff notices — are being offered a voluntary retirement option, according to The Journal.
The workforce reduction combines the impact of earlier moves — including winding down non-core initiatives and reaching a definitive agreement to sell Cboe Canada and Cboe Australia — with the latest organizational realignment, Donohue said in a statement.