Hedge fund manager WorldQuant cut its workforce of more than 750 people by 130 over the past few weeks.
The cuts affected mostly staff who worked outside the U.S., confirmed a source with knowledge of WorldQuant’s actions who spoke on condition of anonymity.
The source also said the firm will close offices in Bangkok; Bucharest, Romania; Sofia, Bulgaria; Tallinn, Estonia; and Mexico City, leaving the firm with 24 offices, including its headquarters in Old Greenwich, Conn.
The source said the reason for the layoffs was related to the firm’s performance, which was positive, but lower than in prior years. The source did not provide WorldQuant’s return.
A spokesman for WorldQuant declined to comment.