Financial services provider Stock exchange operator SIX announces job cuts for 2025
Stock exchange operator SIX wants to become more efficient and profitable in the face of strong competition. To this end, it is embarking on a three-year program that could result in the loss of up to 150 jobs this year.
12.03.2025, 07:28
12.03.2025, 08:48
SDA
SIX is aiming for revenue growth in the mid-single-digit percentage range by the end of 2027, as the Group announced on Wednesday. The operating profit margin before depreciation and amortization (EBITDA) is expected to improve from 28% in 2024 to over 40%. The organic and inorganic growth strategy is to be accelerated and the business mix used more efficiently.
In addition, SIX intends to reduce its cost base by more than CHF 120 million over the next three years. This could lead to a reduction of around 150 jobs across the Group by the end of 2025, it said. However, this would be partially offset by natural fluctuation and early retirements. Last year, operating expenses amounted to 1.14 billion (+4.1 percent).
Switzerland affected
The reduction affects all business areas and functions as well as all regions, a SIX spokesperson told the news agency AWP. "We are not specifying how many per location at the moment." However, there will also be a reduction in Switzerland.
At the end of 2024, around 4,430 people were working for SIX, according to the annual report published on Wednesday. Around 2,310 of these are in Switzerland (52%) and around 1,020 in Spain (23%), with the remainder based in Poland, India, France and the UK, among others.
In the home market of Switzerland, the number fell by 1.4% last year, while in Spain it increased by 9.6%. Across the Group, 6.5% more people worked for SIX than at the end of 2023. The Swiss company acquired the Spanish stock exchange BME for around EUR 2.6 billion in summer 2020.
Worldline burdens result again
Meanwhile, operating income increased by 4.0% year-on-year to CHF 1.59 billion in 2024. EBITDA reached 443.7 million (+3.6 percent). However, EBIT was impacted by a value adjustment of CHF 167.7 million on the investment in the French payment transaction provider Worldline, leaving a net profit of CHF 38.7 million.
In the previous year, SIX had suffered a loss of 1.01 billion. At that time, Worldline and a write-down at the Spanish stock exchange were also to blame, albeit to a much greater extent.
Shareholders are now to receive a 10 centime higher dividend of CHF 5.30 per share for 2024.
SIX is owned by around 120 financial institutions, which are also customers of the financial infrastructure service provider. UBS holds 34.5 percent.
