Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US hedge fund Schonfeld Strategic Advisors is cutting 15 per cent of its workforce in a cost-cutting drive after walking away from talks with larger rival Millennium Management earlier this week. About 150 of the firm’s 1,000 employees were informed on Wednesday that they were losing their jobs, according to a person with direct knowledge of the situation. The cuts largely relate to non-investment roles in areas such as technology and back-office services, the person added. Earlier this week Millennium, one of the world’s biggest hedge funds with $60bn under manage
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