Layoffs Watch '08: Blue Mountain

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Supposedly management is meeting circa now to discuss just how many heads will be cut from the firm, with early predictions pegging the carnage at around 40 (out of 155 or so employees), with long/short credit, quantitative strategy, loans, and research bearing the brunt of the slaughtering. The victims are expected to be shown the door just before New York and London's holiday parties, i.e. within the next seven days. Last month's investor election apparently resulted in less than 20 percent asking for their money back, after they were told they'd have to shoulder the cost of redemption rather than just getting cash. Major investors are apparently being told performance "remains flat, i.e. excellent." So that's nice.
Earlier: We've Got A Plan ("The Plan") For The Shit ("The Shit") Hitting The Fan ("The Fan")

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