Layoffs Watch '16: Hedge Fund Manager Who Just Spent $500 Million On Two Paintings Trims Staff


So what if he could've employed those 12 or so people for the next 41 years at $1 million a year for the price of those two paintings, so what?

Hedge-fund giant Citadel cut more than a dozen members of its investment staff this week in the wake of early losses for the firm in 2016. The Chicago-based firm, led by billionaire Kenneth Griffin, parted ways with analysts, associates and portfolio managers in its multibillion dollar Surveyor Capital arm. Surveyor is one of Citadel’s three internal units that bet on and against stocks worldwide.

Hedge Fund Citadel Cuts Employees in Wake of Losses [WSJ]

Related: Ken Griffin Buys Two Paintings With Change He Fished Out Of The Couch