Swiss exchange operator SIX has announced plans to reduce its workforce by 150 jobs as part of a three-year initiative aimed at cutting costs and enhancing profitability.
The company reported a net profit of CHF38.7 million for 2024, a significant recovery from a CHF1 billion loss the previous year, which was largely attributed to its investments in payment provider Worldline and BME. SIX aims to reduce its cost base by CHF120 million ($136 million) over the next three years.
The organization indicated that this reduction will involve around 150 positions being eliminated across the Group by the end of 2025, with job cuts expected to occur through natural attrition and early retirements. Currently, SIX employs approximately 4,300 staff across 20 countries.
This announcement coincides with the launch of SIX’s new strategy, Scale Up 2027, designed to enhance top-line growth and improve the company’s margin profile. The firm is targeting mid-single digit income growth and aims to increase its EBITDA margin from 28% in 2024 to over 40% by the end of 2027. The strategy will leverage both organic and inorganic growth approaches.
As part of Scale Up 2027, SIX plans to merge its SIX Digital Exchange (SDX) business with its Securities Services unit. The Group has stated that it will deploy technology on a larger scale to drive innovation within SIX, as well as in key partnerships with the Swiss National Bank and the Helvetia Pilot.