could lay off three quarters of the American Stock Exchange when the exchanges complete their merger later this year, according to
The Wall Street Journal
The $260 million, all-stock deal,
, is expected to be completed in the third quarter. According to the
, NYSE is expected to keep only about 100 to 120 of Amex's 380 employees.
Amex's traders and brokers who work on the exchange's stock, options and exchange-traded funds floors would not be affected by he cuts, according to the paper.
NYSE is expected to report first-quarter earnings Tuesday. Rival exchanges, including
have reported soaring trading volumes when they reported in recent weeks, due to the market's first-quarter volatility.
This article was written by a staff member of TheStreet.com.