Liquidnet, a provider of buyside trading platforms, has made cuts from its European workforce in recent weeks, Financial News has learnt, as it fights to contain costs amid the global drought in equities trading.

The US-based group has made at least seven of its 45-strong European business redundant over the last three weeks, according to sources familiar with the situation. The cuts have been made across the business, and has included traders, sales traders, relationship managers and sales analysts.