Electronic trading major IG Group Holdings plc (LON:IGG) today announced it is beginning measures to simplify and streamline the business.
The Group expects to reduce headcount by approximately 300, which represents around 10% of the total workforce at the end of FY23.
Alongside other efficiency measures, including expanding the use of its global centres of excellence, the Group expects to deliver full run rate cost savings of £50 million per year. These initiatives are expected to drive operating margin expansion over the medium term.
The Group anticipates structural savings of £10 million in FY24, £40 million in FY25 and £50 million in FY26. In FY24 specifically, variable costs…
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