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Layoffs Watch '08: Herbicide
Dealbreaker — Some things are so obvious that they need not be pointed out but we'll do it anyway: whacking is no longer just de rigeur with zee banks. Hedge Funds May Cut 10,000 Jobs, Options Group Says [Bloomberg]

Layoff Watch: 10,000 Jobs On Chopping Block?
Trader Daily Combined Feed — "Hedge funds may cut as many as 10,000 jobs this year as they struggle with their biggest losses in almost two decades, according to estimates by executive search firm Options Group. The industry has already eliminated 3,000 to 5,000 jobs, out of an estimated 150,000 worldwide, Michael Karp, chief executive officer of the New York-based firm, said today in an interview. Layoffs may double by the end of 2008, he said. "It's bad out there," said Karp, whose firm has tracked hedge-fund hiring since 1995. "Generating returns is not easy at the moment and as funds look to cut costs, the best way is to let go of people." Hedge funds, lightly ...

Hedge Funds May Cut 10K Jobs
Fund My Mutual Fund — It appears hedge funds are, much like Las Vegas, not quite as recession proof as many thought. After every abundance, is a shortage and after every shortage is an abundance.... Hedge funds may cut as many as 10,000 jobs this year as they struggle with their biggest losses in almost two decades, according to ...

Hedge fund withdrawls, leverage, and future job prospects
FinanceProfessor.com — Citadel Hit Hard as Hedge Fund Withdrawals Continue - Seeking Alpha: "The chief executive of a leading alternative investment manager said he expected the hedge fund industry to shrink by 50 per cent in coming months – with half the decline coming from withdrawals and half coming from investment losses. Even if that prophecy only becomes partially true, that is a massive amount of deleveraging, unwinding, and liquidation. Forced selling is driving this market and will continue to do so"More on the redemptions is available from Naked Capitalism which also correctly points out that the leverage that allowed more assets to ...