Business & Tech
Greenwich Hedge Fund Lays Off 15 Percent of Workforce: Report
The move comes after investors pulled more than $2 billion this year.
GREENWICH, CT — Tudor Investment Corp. laid off about 15 percent of its workforce after more than $2 billion was withdrawn by investors from the fund.
The fund oversees $11 billion and employs 400 people, according to Bloomberg. The layoff affects all levels of employees.
Tudor is one of the oldest and most expensive hedge funds, and the large withdrawal by investors is an example of how some large investors have become disenchanted with high-fee hedge funds, according to Bloomberg.
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