NYSE Group to cut more than 500 jobs - MarketWatch

I am fascinated at the way the NYSE-Archipelago merger is having concrete results in reducing costs. It will continue to interesteing to see how they mesh the electronic with the floor trading. Stay tuned.

NYSE Group to cut more than 500 jobs - MarketWatch:

"Since March 2005 -- when the NYSE, Archipelago Holding and Securities Industry Automation Corp. had 3,484 employees on a combined adjusted basis -- there has been a reduction of 35% of its total workforce or more than 950 employees, the NYSE said.

'We estimate that the headcount reduction will save NYSE roughly $60 milllion per year in costs and that the reduction in consultants will reduce professional fees by roughly $20 million year,' Prudential analysts said in a research report Wednesday."