The New York Stock Exchange's parent company is offering buyouts to a quarter of its New York-based staff, and plans further job reductions both in the U.S. and Europe.
NYSE Euronext Chief Executive Duncan Niederauer said last week that he decided to slash headcount in the U.S. first, "because I don't want anyone in Europe to accuse us of being an American-led company," according to Financial News. The company, formed a year ago through a transatlantic merger, operates seven exchanges based in the U.S., UK and continental Europe. Its global work force has already shrunk from 3,710 a year ago to 3,180, a 14 percent reduction, the newspaper said.
Niederauer said at a conference that NYSE Euronext has offered "voluntary retirement" packages to 450 of its 1,800 remaining New York employees.