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Hedge fund Brevan Howard laid off more than 100 people, including about 20 traders
In order to streamline the fast growing business, Brevan Howard Asset Management, one of the most famous hedge fund companies in the world, will cut about 10% of its staff, involving about 100 employees.
According to a person familiar with the situation, this layoff includes about 20 traders, as well as backstage and technical personnel. The company has more than 1100 employees in eight trading centers in London, New York, Abu Dhabi and Hong Kong.
An insider who asked to remain anonymous because the details were not disclosed said that the restructuring was currently in progress and had been disclosed to employees on Thursday. The company also cut about 20 traders last month.
A representative of Brevan Howard declined to comment.
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