FP Markets Cuts Up to 7% of Global Staff Amid Industry-Wide Restructuring

CFD brokerage FP Markets has initiated workforce reductions, becoming the latest firm in the retail brokerage sector to do so. The company's Group Head of HR & People Culture, Christina Koro, confirmed that the layoffs impact less than 7% of its global employees, as part of a broader organizational review. "As with any evolving organisation, some roles change in nature or are consolidated," Koro stated, noting continued expansion into new markets and strategic investments in technology.

The Australian-based broker, which employed over 300 staff globally as of mid-2025, undertakes this restructuring following recent executive and regulatory developments. These include the departure of Chief Technology Officer Alexander Strelnikov in March 2026 and a €100,000 settlement with Cyprus regulator CySEC earlier this year over potential compliance breaches.

The move aligns with a wider industry trend. Recently, IronFX laid off 10% of its workforce, eToro cut approximately 10% of staff this year, and FXCM eliminated over 100 roles last year. Executives at these firms have cited efficiency gains and Generative AI as drivers for restructuring, though its specific role in FP Markets' decision is unclear.

The narrative framing job cuts as a technological pivot is gaining traction, potentially offering a more investor-friendly rationale than traditional reasons like margin pressure. However, regulators are scrutinizing the efficacy of such automation. In 2026, the UK's FCA ordered BeAccount Ltd to shut down after its automated tools failed to catch basic risks.

The long-term impact of Generative AI on operational efficiency and its resilience under regulatory review remain untested. Consequently, the sustainability of AI-linked workforce reductions across the financial services industry is not yet guaranteed.