Hedge fund firm DE Shaw cuts 10% of employees

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DOW JONES NEWSWIRES

  Hedge fund firm DE Shaw will shed up to 10% of its global workforce,
the Financial Times reported Tuesday, citing people familiar with the
company.
  The people said significant job cuts have been announced in New York
and London, with more redundancies expected in the next few weeks.
  The firm, which as of Sept. 1 managed about $21 billion, suffered an
estimated $7 billion in redemptions over the past few months,
investors told the newspaper.
  A company spokesperson declined to comment.

  Full story at
http://www.ft.com/cms/s/0/563f32 ... 0-00144feab49a.html


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  (END) Dow Jones Newswires
  09-28-10 1724ET
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