Chicago, Illinois-based Cboe Global Markets, a financial exchange owner/operator of a portfolio of exchanges and trading venues across equities, options, futures, and digital assets, has announced a major cost-cutting initiative and a reallocation of assets to core functions.
The new program will affect 20% of its global workforce, including voluntary-retirement packages to older employees, stronger work-from-home policies.
Approximately 334 employees will be impacted.
CEO Craig Donohue noted, “I’ve been trying to reorient the company to be more focused on optimizing growth in our core. This is allowing us to kind of pivot to these new areas of growth. We have a tremendous opportunity in front of us, but realizing it will require us to work more closely together and be incredibly disciplined with our decision-making, priorities, and allocation of capital. We will continue to aspire to be a high-performance, innovation-first, and ownership culture that can operate with the focus, accountability, and agility needed to execute our long-term growth strategy.”
Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?