CME Group eliminating about 150 jobs

SHARE CME Group eliminating about 150 jobs

CME Group said Tuesday it is eliminating about 150 jobs — or about 5 percent of its global workforce — as part of restructuring efforts.

The parent company of the Chicago Board of Trade and other exchanges said that most of the job cuts will come from technology, with the rest from corporate and administrative functions.

Executive chairman and president Terry Duffy said in a statement that the job cuts and other measures it has taken will lower costs and reduce management layers.

CME Group Inc. said that employees whose jobs are eliminated will be eligible for severance and outplacement services.

The Chicago company’s stock gained $1.44, or 1.8 percent, to $80.45 in morning trading. Its shares have been up less than 1 percent so far this year through Monday’s close.

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