Layoffs come for the asset management industry as economy stumbles

(Opalesque) The asset management industry is bracing for job and pay cuts according to the latest report from Johnson Associates. Lower fee products, a greater risk for defaults and a tumultuous market environment will make it difficult for asset managers to maintain current headcount and pay rates even if performance ends up bouncing back. For alternative investment managers, the picture is especially murky. Hedge funds have seen months of outflows, but some of that has been offset by a rebound in the market.

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