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.
As we mentioned last week, in the wake of the GLG buy, things are not looking so good inside Man Group. Redemptions are “mounting,” bonus outlook is bad to very bad and employees are making a dash for the exits. Today Financial Newsconfirms the departures of 8 of the 15 front office employees who’ve taken off. Read more »