Bats Europe is planning to lay off around 50% of Chi-X Europe employees, following its acquisition of the pan-European trading platform, Financial News reports. Bats will not keep the Chi-X Europe technology and make maximum of the cuts in Chi-X Europe’s technology and operations department, which currently employs around 24 people.

The Kansas City-headquartered exchange intends to keep some technology staff until the integration and transition phase is over. Out of the 53 Chi-X Europe team, 26 members have been asked to leave. Chi-X Europe’s CFO, Kevin O’Keefe, and CEO, Alasdair Haynes, will leave after the $360 million deal closes.

Click here for the story from Financial News.