CAREERS
IG Group Plans Major Job Cuts as Part of Organisational Restructuring
MyDigiFolio Editors
1 min read
IG Group is preparing for a significant workforce reduction as it restructures its organisation to improve efficiency. The reported cuts follow the company’s agreement to acquire U.S. operator Underdog for up to $1.3 billion.
Britain’s IG Group is planning to reduce its workforce significantly as part of an organisational restructuring focused on improving efficiency, according to a report by Sky News.
The online trading platform has not disclosed the expected size of the job cuts. Sky News, citing sources, reported that the company’s workforce of around 2,300 employees at the end of June would be reduced substantially.
An IG Group spokesperson said the company is updating its organisational model as part of a strategic review, with the aim of strengthening its ability to serve customers and operate efficiently.
The reported workforce reduction comes several weeks after IG Group agreed to acquire U.S.-based daily fantasy sports and prediction markets operator Underdog for up to $1.3 billion. The deal would expand IG Group’s presence in the growing U.S. retail trading market.
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