(Reuters) – CME Group (NASDAQ:), the world’s largest derivatives change, eradicated about 100 positions, or 3% of its workforce, this week whereas reallocating some positions, a spokesperson stated on Friday.

“The corporate plans to reallocate nearly all of these positions to new, cloud-focused know-how roles,” the spokesperson stated in an emailed assertion, including that the general headcount will stay the identical.

The spokesperson declined to touch upon how many individuals can be reallocated or whether or not CME will rent extra folks to keep up headcount.

The 125-year-old change and clearinghouse operator joins main Wall Road banks in slicing headcount after two regional U.S. lenders collapsed in March, the business’s largest disaster since 2008.

After constructive quarterly ends in April, Chief Government Officer Terry Duffy cited “shifting perceptions concerning the Fed’s near-term charge path in addition to important banking issues in March.”

Chicago-based CME operator is to announce second-quarter outcomes on Wednesday.