Intercontinental Exchange Inc. is shedding some 40 employees from its U.S. environment bourse Chicago Climate Exchange (CCX) by the end of the year, with further cuts in 2011, ICE’s chief financial officer said. “We had about 66 people when we bought the company. I think we’ll be closer to 25 by the end of the year. And then we’ll reduce further into the first quarter,” Scott Hill told a conference call following a company earnings update this week.

The futures exchange group reported a stronger-than-expected 15 percent rise in quarterly profit on Monday.

Industry sources told Reuters in August that ICE had started to make layoffs at CCX in July due to the lack of U.S. action on climate change. Get the full story »