firing people is expensive

Layoffs Watch ’13: Man Group

The hedge fund formerly known as GLG Partners is setting aside a few more pounds to print a few more pink slips.

Man Group, the world’s second-largest hedge fund, has revealed an additional $90m in restructuring charges, with $30m set aside to dismiss staff over the course of the next three months – drawing out an already long and painful series of cutbacks.

On the bright side, for the first time in the Manny Roman era, investors are entrusting more money to Man than they are redeeming from it. Which is progress. Read more »