Renaissance Capital Said to Cut Up to 15 Percent of Workforce
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Renaissance Capital, the investment bank half-owned by Russian billionaire Mikhail Prokhorov, is cutting as much as 15 percent of its workforce as business slows, according to two people with knowledge of the matter.
The jobs cuts are restricted to investment banking, said the people, who declined to be named as the news hasn’t been made public. Daria Khilenkova, a spokeswoman for RenCap in Lagos, declined to comment by phone. The reduction was reported earlier today by Russian news agency Interfax.