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SIX France to consolidate IT, lay off staff

18 May 2016  |  1535 views  |  0 Source: SIX

SIX Financial Information France SA announces an integration plan to fully align the unit with the global functional structures of SIX by the end of this year, as well as other strategic measures.

This will allow SIX to strengthen the French organization and to increase its competitiveness. If the integration plan is approved by the French labor authorities, the integration will lead to a staff reduction in France accompanied by a social plan.

SIX runs its business units using a global functional governance. This organizational set-up has already been rolled out in Switzerland as well as in most other international locations. Fully in line with this strategy, SIX has now decided to also implement this organizational model at SIX Financial Information France SA. In addition, SIX Financial Information France SA will automate data management and consolidate IT operations and infrastructure.

These strategic, organizational and operational measures are necessary to ensure the mid- to longterm success of SIX Financial Information France SA. The implementation of this strategy will be the prerequisite for SIX Financial Information France SA to revive growth in its key market, France, and restore competitiveness. This project is also being carried out to guarantee that SIX Financial Information France SA will be able to meet the increasing demands of their clients, now and in the future.

During the consultation phase with social partners and the subsequent integration, clients will continue to receive products and services from SIX Financial Information France SA of the usual and expected high quality. Going forward, clients will be able to benefit from the global product offering of SIX, combined with local expertise.

The full integration of our French organization will lead to a reduction of staff. In accordance with French labor law, an employment protection plan has been set up in coordination with the Management Committee in France. Based on the principle of voluntary redundancy, it is intended to keep the number of redundancies as low as possible. Staff representatives have been informed today and consulted with about this project. The process will last until the end of August 2016.

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