Euronext consults on Atos Origin outsourcing and business restructuring plans
13 November 2002 | 6225 views | 0
Pan-European exchange Euronext has entered consultations with staff and regulators about a major restructuring programme, including the outsourcing of some of its operations to computer services firm Atos Origin.
Euronext has denied reports in Dutch business daily Financieele Dagblad that the restructuring will lead to a swathe of job losses at the group.
The plans which have been approved in principle at management and supervisory board level are however expected to lead to the transfer of about 200 staff to Atos Origin.
Under the proposed new structure, Euronext will be reorganised into four Strategic Business Units (SBU) with a clear focus on product development and revenue growth. The new P&L units will centre on cash markets, derivatives markets, clearing services and information services.
Euronext says it hopes to complete the consultation process by the end of the year for implementation on 1 January.