The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Layoffs Hit Neuberger Berman Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, February 11, 2009

Layoffs Hit Neuberger Berman

Reported by Armie Margaret Lee

Two months after its post-Lehman Brothers fate was decided at an auction, newly independent Neuberger Berman is cutting staff. The layoffs this week affect a "single-digit percentage" of New York-based Neuberger's staff, which totaled around 2,000 as of December, a source familiar with the situation told The MFWire.

Neuberger spokesman Randall Whitestone declined to comment.

Yet the source, who requested anonymity, said the cuts have minimal impact on Neuberger's portfolio management team. The headcount reduction, added the source, affects mostly the firm's support staff.

Post-Lehman, Neuberger is concentrating its efforts on the equities, fixed income and fund-of-funds businesses, the source said.

Rumors of layoffs, which have made the rounds among Neuberger alumni during the past week, were picked up Tuesday afternoon by Dealbreaker.

In December, a group of Neuberger managers and senior employees emerged as the winning bidder for the unit (see The MFWire, 12/03/08). Their bid beat out an earlier offer by private equity firms Bain Capital and Hellman & Friedman (see The MFWire, 09/28/08).  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use