SINGAPORE-BASED carbon exchange Climate Impact X (CIX) has confirmed that it had laid off “a few” of its employees late last year as part of a restructuring exercise.

The exercise was undertaken to optimise CIX’s operations and position it to meet the evolving needs of the carbon market, said a spokesperson in response to queries from The Business Times.

The company was also transitioning from a phase where it was building its capabilities and platforms to being fully operational. Hence, the capabilities required to support the next phase of the company’s growth trajectory have evolved.