Quant Firm AQR Capital Cuts Jobs After Assets Decline
- Quantitative money manager has about 900 employees worldwide
- Cliff Asness’ firm has seen assets decline almost 20%
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Billionaire Cliff Asness’ quantitative firm, AQR Capital Management, is dismissing between 5% and 10% of its global workforce after its funds underperformed and lost assets last year.
It’s the second straight year that AQR, which has about 900 employees, is cutting staff. Affected employees are being told Wednesday, according to a person with knowledge of the firm.