WorldQuant Cuts About 130 Employees and Shutters Five Offices
- Mexico, Thailand, Estonia, Bulgaria, Romania offices to close
- Decision follows year of relative underperformance for fund
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Igor Tulchinsky’s WorldQuant dismissed about 130 employees and is shuttering five offices, according to people familiar with the matter.
The quantitative hedge fund, which manages more than $7.5 billion for investors including Izzy Englander’s Millennium Management, is closing offices in Mexico City; Bangkok; Tallinn, Estonia; Sofia, Bulgaria; and Bucharest. The bulk of the layoffs occurred in recent weeks and were outside of the U.S., said the people, who asked not to be identified because the matter is private.