Swiss exchange operator SIX is to axe 150 jobs as part of a three-year strategy to cut costs and boost profits.
SIX reported a net profit of CHF38.7m for 2024, compared with a loss of CHF1bn a year earlier — when the group took a hit on its interests in payment provider Worldline and BME.
The firm says it is looking to reduce its costs base by 120m Swiss francs ($136m) over the next three years.
SIX states: "This may include a reduction of around 150 positions across the Group by year-end 2025, partly through natural attrition and early retirements."
SIX currently employs around 4,300 staff across 20 countries.
The news comes as SIX unveils a new strategy, Scale Up 2027, to strengthen top-line growth and improve its margin profile.
SIX is targeting mid-single digit income growth and an improved Ebitda-margin from 28% in 2024 to beyond 40% by year-end 2027. The firm says this will be pursued via an "organic and inorganic growth strategy".
As part of Scale Up 2027, SIX will integrate its SIX Digital Exchange (SDX) business into the Securities Services business unit.
Says SIX: "The Group will deploy the technology at a larger scale, continuing to drive innovation within SIX, as well as across key partnerships with the Swiss National Bank and the Helvetia Pilot.