US fintech vendor Trading Technologies International (TT) is reducing its workforce by around a sixth, laying off 100 employees.
According to the Financial Times, 80 of the affected positions are at the company's Chicago headquarters, with the remaining losses coming in London, New York and Singapore. Software engineering, IT support and sales roles are all being axed.
Says a statement: "As we've become more focused and efficient over the past few years, we made a difficult, but necessary decision to lay off about 100 employees."
Earlier this month the company rehired Rick Lane as chief technology officer, bringing to an end a brief stint at Google.