CMC Markets Plc (LON:CMCX) today issued an update on its cost reduction and efficiency plans.
Metro Bank Holdings PLC today issued an update on its cost reduction plan to be launched in the fourth quarter of 2023.
IG Group expects to reduce headcount by approximately 300, which represents around 10% of the total workforce at the end of FY23.
The August 2022 Restructuring resulted in a net reduction to share-based compensation of $53 million at Robinhood Markets.
Further to its operational review announced in November 2022, AQRU has identified further opportunities to improve efficiency.
The company blamed the job cuts on ongoing economic headwinds and recent industry events, such as the collapse of FTX.
The restructuring plan involves a reduction of the Coinbase workforce by approximately 950 employees.
Australian crypto firm Swyftx is laying off 90 employees although the firm says it does not have exposure to FTX.
Kraken is reducing its global workforce by approximately 1,100 people, or 30%, in order to adapt to current market conditions.
AQRU has identified an opportunity to strengthen its balance sheet by downsizing its employee base to 25% of its current size.