Euromoney, is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

FX market round-up: Saxo cuts workforce

Saxo Bank, despite reporting increased profitability, has shed about a third of its workforce. About 300 jobs have been axed at its Copenhagen headquarters, with up to 50 disappearing in London. The bank is believed to be reviewing its operations in both Singapore and Switzerland in particular. The cost-cutting comes after Saxo embarked on a spell of rapid and aggressive expansion. Its staffing level is now virtually back to where it was a year ago.