Hedge fund manager D.E. Shaw laid off 25 administrative and recruitment staffers, about 1.5% of its 1,700-person work force, confirmed a company spokesman who asked not to be identified.
Ten other employees were reassigned to different positions within the firm, which managed about $30 billion as of June 1.
No investment professionals or other front-office personnel were cut, and additional layoffs are not planned.
“The affected groups had significant excess capacity,” the source said.
