Retrenchments: JSE to cut back staff numbers to become more ‘nimble’

CEO of JSE Limited, Nicky Newton-King, says the bourse plans to retrench up to 60 staff in a bid to become more “nimble” and “cost-effective”.

The JSE says this is not in direct reaction to growing competition but rather because the exchange space is changing. The JSE has also cited a challenging macroeconomic environment.

Retrenchments are becoming increasingly common in South Africa. However, one wonders if those who are retrenched at the JSE could land up at the competition.

Smaller players like ZAR X have already started to trade, but the bigger competitor will be A2X, which seeks to list several top JSE listed companies on its platform. Interesting times lie ahead.

Gareth van Zyl July 10, 2017 | CEO, economy, Economy of South Africa, Johannesburg Securities Exchange, JSE, JSE Limited, Nicky Newton-King, pm-newsletter, Securities & Commodity Exchanges, South Africa