Monday, 27 April 2015
Last updated 21 min ago
Feb 11 2009 | 2:42am ET
Alternative investments giant Fortress Investment Group is getting a little smaller. The publicly-listed New York-based firm cut 11% of its staff in the fourth quarter.
According to Financial News, Fortress eliminated about 100 jobs in the last two months of 2008, brining its global workforce down to about 800. According to some sources, the axe fell particularly heavily on the firm’s overseas offices, with some losing a quarter of their staff.
The cuts come after almost two years of personnel growth for Fortress, which had added some 200 staffers from January 2007 until September 2008. The firm lost $57 million in the third quarter, and has been deluged with redemption requests totaling almost half of its assets.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…