In Re: Silver Linings: Amaranthers Finding Jobs

Author:
Publish date:

Hey, look! Some good news coming out of Amaranth.
We’re told that employees at the hedge fund manager Amaranth, which suffered massive losses at the end of this summer and is now in the process of winding down its funds, are indeed landing financial industy jobs, thanks in part to Amaranth’s reaching out to many of the banks and other Wall Street outfits with which it has relationships.
According to a source familiar with the situation who spoke with DealBreaker over the weekend, Amaranth’s employees won’t be hitting the dole anytime soon. The fund has so far been successful in placing many employees at clients, vendors and competitors, we’re told. Since the problems at Amaranth arose from its tiny Calgary office, employees in the Greenwich, Connecticut offices do not seem to be suffering from any “scarlet letter” shunning when looking for new positions.
Amaranth has announced plans to lay off 250 workers, about 60% of its workforce.

Related