• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Two Sigma to cut 200 jobs after review – Bloomberg

by November 21, 2024
written by November 21, 2024

NEW YORK – Two Sigma Investments, a prominent hedge fund, is set to reduce its workforce by approximately 200 employees, a move that comes after a comprehensive business review by its new co-chief executive officers, Carter Lyons and Scott Hoffman, Bloomberg News reported. The layoffs, which were announced on Thursday, account for about 10% of the firm’s staff, totaling around 2,000 individuals.

The review, led by Lyons and Hoffman, did not affect any portfolio managers. Instead, the job cuts spanned across various departments including corporate, engineering, modeling and trading, and securities units. The co-CEOs, who assumed leadership in September following the step back of founders John Overdeck and David Siegel from daily operations, aim to realign the firm’s resources more efficiently.

In a memo to staff, Lyons and Hoffman stated, “This area-specific review has revealed that our business is strong and poised for continued growth. We have also discovered opportunities to more effectively direct our resources to areas that will drive the most value.” The decision to streamline the workforce reflects the company’s strategy to optimize operations and focus on areas of potential growth.

Two Sigma, known for its data-driven and technological approach to investing, has not publicly commented on the layoffs. The company’s leadership change earlier this year marked a significant shift, as Overdeck and Siegel had been at the helm since the hedge fund’s inception.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Palo Alto initial negative stock reaction ‘overblown’ Wedbush says
next post
BofA calls Comcast’s cable network spin-off “strategic step”

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Goldman Sachs boosts CEO pay to $39 million, lines up five more years at helm
    • Wells Fargo analysts project Trump auto industry impact

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy