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Article: CBOE waits till '88 to decide on layoffs
- Article from:
- Chicago Sun-Times
- Article date:
- December 28, 1987
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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The board of directors at the Chicago Board Options Exchange is
waiting until the New Year to determine whether it will have to issue
pink slips in the aftermath of decreased trading volume there
following the Oct. 19 stock market crash, members say.
However, the topic of layoffs may be discussed as early as Jan.
6 during the first board meeting of 1988, they add.
A number of CBOE members believe layoffs among the support staff
of 1,100 are likely, although exchange officials said last week
during an interview that cutbacks may not be necessary.
CBOE President Chuck Henry said the board ordered a hiring
freeze after the October crash, resulting in the attrition of about
30 employees ...