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Economy

by T.I.

Euronext group : job cuts even at the Paris Stock Exchange

Translated Wednesday 22 April 2015, by Anne Sanders

On Monday, 13 April, the European stock exchange group Euronext announced a restructuring programme which would involve 101 job cuts in its IT and stock market sectors.

Wednesday 15 April 2015

On Monday, 13 April, the European stock exchange group Euronext announced a restructuring programme which would involve 101 job cuts in its IT and stock market sectors.

In a joint press release, the CGT, CFE-CGC and CFDT unions condemned “a massive redundancy plan” which will affect “a third of Paris employees” when “the Euronext group has published unrivalled financial performances”.

According to the unions, the management has put forward as “reasons” the “safeguarding of competitiveness” and “continuing efforts to make savings” to the tune of 80 million euros. They see this restructuring as “dangerous for the mental and physical health of the employees whose numbers are already insufficient to cope with the work-load” and “dangerous for the long-term economic viability of the company”.
Patrice Crosas, the CGT delegate, claims that the management wish to cut 50 jobs in the stock market sector of Euronext and 51 jobs in its IT sector.

When contacted by AFP, Euronext declined to comment. At the presentation of its results in February, the group flagged up its objective of making savings of between 60 and 80 million euros, which would notably include a move of the operational headquarters from central Paris to the outskirts at La Défense.


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