Soros Lays Off Several Analysts, Portfolio Managers

Dec 16 2011 | 4:37pm ET

Now a family office, Soros Fund Management is tightening its belt. The New York-based firm, which earlier this year returned outside capital to investors, has laid off several analysts and portfolio managers.

The job cuts have come over the past several months, following the $25 billion firm's hiring of Scott Bessent as chief investment officer in September. The analysts laid off covered stocks, Reuters reports.

Soros said that the layoffs are part of the normal course of business. The cuts at the firm, which has about 300 employees, were not especially large, according to Reuters.

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