Perry Capital to Cut 32 Jobs as Main Hedge Fund Winds Down

Perry Capital plans to cut almost half its staff by year-end, according a filing with the New York state Department of Labor.

The firm will cut 18 employees by Oct. 31 and another 14 by Dec. 31. It has a total of 58 staff, the filing said. The final closing of the company isn’t expected for at least a year, the notice said.

Founder Richard Perry is winding down his New York-based flagship fund as the hedge fund industry confronts one of the most tumultuous periods in its history. In a letter to investors last month, he said his style of investing no longer worked.  

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