Tullett Prebon to trim headcount

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British interdealer broker Tullett Prebon said on Friday it would cut costs and trim headcount as challenging market conditions continued to weigh on its business, sending revenue 12% lower in the first four months of the year.

Reuters reports that revenue in the four months to April was $420.42m compared to $495.76m in the same period a year earlier.

'The level of activity in the financial markets has remained subdued, and market conditions have therefore continued to be challenging', the firm said in a statement.

To access the complete Reuters article hit the link below:

Tullett Prebon cuts costs as 4-month revenue falls 12 percent

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