SunGard cuts 20% from Global Markets
TECHNOLOGY NEWS
SAN MATEO, Calif -- SunGard Trading Systems Global Markets is laying off more than 20% of its workforce in an effort to meet a tight budget requirement for 2002, according to an internal memo obtained by FX Week's sister publication Trading Technology Week.
The e-mail was sent on January 21 by James Davis, president of the STS Global Markets group, which includes the Global Trader and Treasury Trader product lines. It atttributes the cuts to the need to meet the unit's targets and match the
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