CME Group Inc. said today that it would cut 150 jobs, or about 5 percent of its workforce, with most of the cuts technology jobs.
The reminder of the cuts are corporate and administrative jobs, Chicago-based CME said in a statement this morning.
The majority are in Chicago, a spokeswoman said.
"Our industry has transformed significantly over the past five years, with the advent of OTC clearing and other changes. As difficult as this decision is, the efficiencies we have built are allowing us to make this change to our structure," CME Group Executive Chairman and President Terry Duffy said in the statement. "These staffing changes and other expense control measures we have taken internally will result in decreased costs and reduced management layers, and will help ensure the company's long-term continued growth."