Jacob Gottlieb’s Visium Asset Management plans to fire 24 employees in New York as the firm liquidates its hedge funds following charges against three former employees.
Bloomberg News reports that the cuts are expected to start on October 26 and continue for “a few months,” Visium said Friday in a New York Department of Labor notice.
The firm said it has 110 employees in New York. Earlier this month, the company notified New York state that it planned to dismiss 33 employees.
Last week’s notice comes just days after AllianceBernstein Holding ended its effort to buy Visium’s Global Fund, dealing another blow to the firm that once managed $8bn.
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Visium Asset Management to Fire 24 Employees as Funds Shut
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