Hedge-Fund Firm Man Group Eliminating 200 Positions

The Wall St. Journal reported Man Group PLC, the world’s largest listed hedge-fund firm, is cutting 200 staff positions and consultants in the coming months. An unnamed source told the paper the move is the result of “deeper-than-expected cuts” following Man Group’s purchase of GLG Partners earlier this month.

According to the report, the cuts are among the biggest in recent history at a major hedge fund. The majority of cuts will come via layoffs with the remainder being from attrition. The cuts are “several times as much as Man projected when it announced the deal” with GLG Partners, the Wall St. Journal reported.

Combined, the two firms have around 1,800 employees.

London-based Man Group is the world’s largest listed hedge fund firm. It has about $63 billion of funds under management.

Career Connect (From our other career blogs):

Employment News (Sponsored by EmploymentSpectator)
Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
Layoff News (Sponsored by LayOffWatch)

Testimonial of the Week

I found a new job! Thanks for your help.

Thomas B ,

+ Read More Testimonial

Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.

We have more jobs than any other job board.
We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
We collect jobs from more than 4,429,376 websites and post them on our site.
We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.