New York Mercantile Exchange (Nymex) sent a letter to staff
offering voluntary redundancy packages after it planned to cut
about 25% of its staff in preparations for the exchange's
The note went out to employees in mid-August as part of its
voluntary separation policy, a source close to the exchange
said, and has led to speculation that large cuts would be made
ahead of upcoming changes at the exchange. Most cuts are
expected to be made in its IT department after Nymex outsourced
its online trading activities over to Chicago Mercantile
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