(Reuters) -Australian stock exchange operator ASX said on Wednesday it had begun consulting on potential job cuts as it ramps up efforts to lower costs amid mounting regulatory pressure. The statement comes on the heels of a report by the Australian Financial Review on Tuesday that the exchange operator had started axing about 100 jobs […]
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Australia bourse operator starts consultation process for potential job cuts
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(Reuters) -Australian stock exchange operator ASX said on Wednesday it had begun consulting on potential job cuts as it ramps up efforts to lower costs amid mounting regulatory pressure.
The statement comes on the heels of a report by the Australian Financial Review on Tuesday that the exchange operator had started axing about 100 jobs across its operations.
The ASX kicked off the redundancy round on Monday and started consulting employees whose roles are affected, with final headcount decisions expected next week, the report said, citing unnamed sources.
“No decisions have been made, and we are committed to working through this process respectfully with our employees,” a spokesperson for ASX said in an email to Reuters.
Cutting 100 jobs would comprise about 8% of the total workforce.
The ASX has been under heightened regulatory scrutiny this year, including over a high-profile tech outage that disrupted settlements in late December 2024.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Sonia Cheema)