Layoffs Watch '08: JWM Partners

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The Journalreports that JWM Partners will "lose" four (out of seven) partners, and will also misplace ten other employees, reducing the staff to twenty five in the coming months. This news was all laid out for investors in the firm's November correspondence, which also contained the information that JWM's flagship, the Relative Value Opportunity Portfolio, fell 42.78% YTD, to a net asset value of $554.8 million. Fun fact: all JWM letters are branded with a unique watermark bearing Mr. Meriwether's face in various stages of distress during the whole LTCM sitch, which you'd think would serve as a sort of skull and cross bones warning of danger ahead, but apparently, not so much.
Earlier: Exits At JWM

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