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News Breaks | | | | February 5, 2013 | | 06:13 EDT |  | KCG | Knight Capital to reduce worldwide workforce by 5%
Knight Capital disclosed last night that on January 30, it completed a corporate restructuring designed to lower operating expenses and improve financial performance. As part of the restructuring, the company will reduce its worldwide workforce by approximately 5%. The restructuring was undertaken in an effort to combine the company’s voice and electronic sales teams and as a result of the winding-down of the company’s correspondent clearing initiative. In connection with Knight’s restructuring, Knight expects that it will incur during Q1 a total estimated pre-tax charge between $9M-$11M. The company expects that there will be additional costs related to the winding-down of its correspondent clearing initiative but such costs cannot be determined at this time. | |
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News For KCG From The Last 14 Days Check below for free stories on KCG the last two weeks. |
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| May 20, 2013 | | 11:34 EDT |  | KCG | High option volume stocks: FLR CST DANG KCG SCTY
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