Hedge fund DE Shaw fires 25 support staff-sources
By Joseph A. Giannone
NEW YORK, June 10 (Reuters) - DE Shaw & Co, one of the world's largest hedge fund managers, fired about 25 administrative and support staff on Tuesday and reassigned other employees in an effort to boost efficiency, people familiar with the situation said.
The job cuts represent a small portion of the New York-based firm's 1,700 employees and do not affect the "front office," according to the sources, who were not authorized to speak on personnel matters by closely held Shaw.
Meanwhile, a firm that boasts a 30-person recruiting department continues to hire new staff as assets continue to grow. Shaw managed about $30 billion as of June 1. (Reporting by Joseph A. Giannone; editing by John Wallace)
