U.S. News

CME to Slash 380 Jobs Following CBOT Merger


CME, the world's largest derivatives exchange, said on Monday it would cut 380 jobs by June 2008 as it streamlines operations following its purchase of CBOT last month.

CME said those employees being laid off would be informed this week.

The company also said the integration of products from the Chicago Board of Trade onto CME's Globex electronic trading platform would take place over two weekends in January, earlier than the "first quarter 2008" timeframe given previously.