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Stock Exchanges Layoffs

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BUSINESS
February 9, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
In a sign that the leading symbol of American capitalism isn't immune from recessionary pressures, the New York Stock Exchange said Friday that it will slash its work force by about 18% over the next few weeks through layoffs, early retirements and attrition. The exchange said it will reduce its staff to about 1,600 employees from the 1,950 on the Big Board's payroll at the beginning of last year.
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BUSINESS
February 9, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
In a sign that the leading symbol of American capitalism isn't immune from recessionary pressures, the New York Stock Exchange said Friday that it will slash its work force by about 18% over the next few weeks through layoffs, early retirements and attrition. The exchange said it will reduce its staff to about 1,600 employees from the 1,950 on the Big Board's payroll at the beginning of last year.
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BUSINESS
December 11, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
The Pacific Stock Exchange said Monday that it will lay off 31 people and significantly cut other operating expenses in an effort to stem losses caused by a steep decline in trading volume. The San Francisco-based exchange said its options volume is 24% below 1989 levels and equities trading volume has fallen 8% this year. Moreover, the value of stocks traded, which is the basis for the exchange's transaction revenue, is down 15%.
BUSINESS
December 11, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
The Pacific Stock Exchange said Monday that it will lay off 31 people and significantly cut other operating expenses in an effort to stem losses caused by a steep decline in trading volume. The San Francisco-based exchange said its options volume is 24% below 1989 levels and equities trading volume has fallen 8% this year. Moreover, the value of stocks traded, which is the basis for the exchange's transaction revenue, is down 15%.
BUSINESS
April 16, 1987 | BILL SING, Times Staff Writer
The Pacific Stock Exchange will dispose of its money-losing clearing and depository businesses, resulting in the eventual layoff of between 350 and 400 mostly clerical employees, or about half of the exchange's total staff, exchange officials said Wednesday. The businesses, which largely handle back-office processing and storage of securities for clients, accounted for just under half of the exchange's 1985 revenue.
BUSINESS
April 16, 1987 | BILL SING, Times Staff Writer
The Pacific Stock Exchange will dispose of its money-losing clearing and depository businesses, resulting in the eventual layoff of between 350 and 400 mostly clerical employees, or about half of the exchange's total staff, exchange officials said Wednesday. The businesses, which largely handle back-office processing and storage of securities for clients, accounted for just under half of the exchange's 1985 revenue.
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