Dozens Fired from cTrader Due to Restructuring, Company Says
- Forex Magnates has been able to confirm that a relatively extensive round of layoffs has taken place at Spotware Systems yesterday. Managing Director explains it is due to "new outsourcing arrangements."
After receiving multiple reports of massive layoffs, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has confirmed that Spotware Systems, developer of the cTrader platform, went through a round of restructuring yesterday.
Prior to yesterday's development, the FX software developer, Spotware Systems, has employed just under a hundred people. Speaking with Forex Magnates, Ilya Holeu, the Managing Director of Spotware Systems, said that despite the firings the company remains a big enterprise and that the core of the business has not been affected.
Mr. Holeu commented on what took place and how the company plans to continue: "We've restructured and re-focused internally and as a result we had some non-mission critical redundancies just now: Some in the Sales Team due to re-focusing on new markets, some in development and QA due to new outsourcing arrangements. Needless to say that we will continue delivering products and services that exceed traders' and brokers' expectations.
We are also continuing to actively on-board a number of new brokers and banks in key new markets/jurisdictions. More exciting announcements on the new clients to follow."
After receiving multiple reports of massive layoffs, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has confirmed that Spotware Systems, developer of the cTrader platform, went through a round of restructuring yesterday.
Prior to yesterday's development, the FX software developer, Spotware Systems, has employed just under a hundred people. Speaking with Forex Magnates, Ilya Holeu, the Managing Director of Spotware Systems, said that despite the firings the company remains a big enterprise and that the core of the business has not been affected.
Mr. Holeu commented on what took place and how the company plans to continue: "We've restructured and re-focused internally and as a result we had some non-mission critical redundancies just now: Some in the Sales Team due to re-focusing on new markets, some in development and QA due to new outsourcing arrangements. Needless to say that we will continue delivering products and services that exceed traders' and brokers' expectations.
We are also continuing to actively on-board a number of new brokers and banks in key new markets/jurisdictions. More exciting announcements on the new clients to follow."