Bridgewater to Cut Jobs as Dalio Says Some Areas ‘Bloated’
- The firm’s main hedge fund has declined about 9% this year
- Firm has attracted $22.5 billion from clients since early 2015
Ray Dalio
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Bridgewater Associates, the world’s largest hedge fund manager, indicated it’s planning to cut jobs as parts of its business have become too large.
The firm told clients in a letter that it has 1,700 employees, up from 1,100 five years ago and 150 in 2001, according to a person who saw the letter. The changes follow a shake-up in the management team that occurred earlier this year.