Lazard slashes 7% of jobs from asset management unit

Pedro Gonçalves
clock • 1 min read

Lazard is set to shed up to 7% of its jobs in its asset management arm and shut down some investment funds by the end of the year, following a review of the business. The New York-based fund house informed employees about the cutbacks last week, a source told Bloomberg. The unit had 850 employees as of June 30, meaning a 7% reduction could bring about 60 firings, with both investment and non-investment roles to be affected. The cuts follow an internal review led by Ashish Bhutani, chi...

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