Layoffs Watch '16: PIMCO To Say Some Tough Good-Byes

On the bright side, you can always join Bill Gross at the new shop?
PIMCO, via Wikimedia Commons

PIMCO, via Wikimedia Commons

Back when Pimco was one big happy family, before mommy and daddy started bitterly fighting because daddy was acting slightlyerratically, layoffs weren't really a thing people worried about too much. Then daddy left in the middle of the night without so much "See ya, sport," taking all his stuff with him, and now everything's gone to hell and the kids are the ones who are suffering.

Pacific Investment Management Co. plans to cut its workforce as assets under management have fallen since the September 2014 departure of Bill Gross...The cuts will be less than 3 percent of the workforce, according to a person with knowledge of the matter.

Pimco Plans Job Cuts After Decline in Assets Since Gross’s Exit [Bloomberg]