Hedge funds take notice. There’s probably going to be a flood of futures and options traders out there from MF Global looking for a job. In response to five straight quarters of losses, Jon Corzine, the firm’s new CEO, said he plans to slash the workforce by up to 15 percent, reduce compensation and freeze hiring.
"We are taking decisive action to fundamentally improve the earnings profile of this company," Corzine said in a statement. MF Global reported a loss of $96.5 million in the quarter compared to a loss of $119.3 million a year earlier.