Britain’s IG Group has told staff that a significant number of jobs would be cut as part of a reorganisation aimed at improving efficiency, Sky News reported on Wednesday.
The online trading platform declined to comment on the scale of the cuts, but Sky News, citing sources, said the firm’s headcount of roughly 2,300 at the end of June would be reduced substantially.
“As part of our strategic review, we are refreshing our organisational model to ensure IG is best placed to serve customers and operate efficiently,” a company spokesperson said in an emailed statement to Reuters.
The reported cuts come weeks after the London-listed company agreed to acquire U.S. daily fantasy sports and prediction markets operator Underdog for up to $1.3 billion, expanding its presence in the fast-growing U.S. retail trading market.
(Reporting by Aatrayee Chatterjee in Bengaluru）
