Hedge Funds May Cut 20,000 Jobs (14% of all Positions) as Losses Erode Fees

Hedge Funds May Cut 20,000 Jobs as Losses Erode Fees (Update1)
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By Katherine Burton and Saijel Kishan

March 10 (Bloomberg) -- Hedge funds may cut 20,000 workers worldwide this year, a record 14 percent of the industry’s jobs, as investment losses and client withdrawals erode fees.

The dismissals will come on top of the 10,000 jobs that disappeared last year at the investment partnerships...“Hiring activity is much reduced and it’s going to get worse,” said Hank Higdon, managing partner at Higdon Partners LLC, a New York-based search firm focused on financial services. “I don’t see markets improving at all.”...

http://www.bloomberg.com/apps/news?pid=20601087&sid=amxZtSQ2NC6c&refer=home

 

McDonald's may be able to pick up some of them for fry technician positions.

 

most hedge funds have not earned their fees for years. if you cant outperform the market you dont deserve higher fees than passive investing.

 

Does anyone else get the feeling that most hedge funds are nothing more than levered mutual funds?

 

You are just noticing this now? By definition they should be relatively delta neutral