Sungard Unit To Cut 20 Percent Of Workforce
STP AND OPERATIONS
SAN MATEO, Calif.--Sungard Trading Systems Global Markets is laying off more than 20 percent of its workforce in an effort to meet a tight budget requirement for 2002, according to an internal memo obtained by Trading Technology Week (see box below).
The layoffs were announced in an e-mail sent on Jan. 21 by James Davis, president of the STS Global Markets group, which includes the Global Trader and Treasury Trader product lines. It atttributes the cuts to the need to make the unit's numbers and
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