Icap cuts 100 brokers across asset classes
Cost-saving progam aims to save £60 million of costs
Broker Icap is cutting 100 people in its voice-trading division as part of measures aimed at shaving £60 million of costs from the company's global broking division, people familiar with the matter told FX Week.
A spokesperson for Icap confirmed that the broker is looking to streamline its voice-broking business as adverse trading conditions pushed the full-year revenue for the period ending March 31, 2014 5% lower than the year before.
The move will impact around 100 people worldwide across
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