Stark & Roth LLC has announced that it will reduce its workforce in a “series of staff reductions.”
According to The Business Journal, the St. Francis, Wisconsin-based hedge fund will begin by eliminating 28 employees this week. The company will also close three of its hedge funds — Shepherd Investments International, Shepherd Guardian and Stark Investments — as a result of its dwindling AUM.
In total, Stark & Roth plans to eliminate 59 positions. It is currently unknown when the remaining jobs will be removed.
Unlike most companies within the financial sector, Stark & Roth’s previous layoffs have not excluded senior management. In fact, The Business Journal reports that the last time Stark & Roth announced a round of layoffs, the company removed five of its 15 principal executives — including former Chief Executive Officer Colin Lancaster. Those layoffs occurred in 2010 after months of declines. In the two years leading up to Lancaster’s removal, Stark & Roth’s AUM dropped 69 percent. At the same time, the company’s workforce declined by 50 percent.
Get Hired Now
These days, job seekers have a million options, but we know where they should turn: StreetID. We built StreetID (a financial career matchmaking website) from the ground up to accommodate Wall Street’s growing community of financial professionals. In good times and in bad, current job seekers and those looking to move on in the future can turn to StreetID and sign up for a free account and make a direct connection with relevant candidates and employers.