CME Eliminated 3% of Staff, With Half Coming From Technology

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CME Group Inc. eliminated about 3 percent of its employees, with about half the cuts coming from technology staff.

The world’s largest futures exchange dismissed about 80 workers on Aug. 6, Laurie Bischel, a spokeswoman, said in an e-mailed response to questions. Brian McElligott, a managing director and global head of information products, is among those who have left the Chicago-based company, Bischel said.

“This was part of the restructuring announced last fall designed to eliminate bureaucracy and improve our ability to serve our global client base more efficiently,” Bischel said.

This round of cuts followed a 5 percent reduction in October. CME’s expenses amounted to $660.3 million during the six-month period that ended June 30, a 2.8 percent increase versus the same period in 2014, the company said last month. CME shares have gained 33 percent in the past year.

Last year, CME revamped its executive structure, naming Bryan Durkin to the new position of chief commercial officer, among other changes. Durkin previously served as chief operating officer.

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