Man Group has reduced its workforce by approximately 20 percent, The Wall Street Journal reports. This is nearly double the amount the firm had planned subsequent to its acquisition of GLG Partners in October 2010. Last year, Man Group had planned 200 job cuts, or some 10 percent of the staff. The group has seen outflows worth $7.1 billion between June 30 and September 26, with $65 billion in management now, down from $71 billion.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Reuters.