The world’s largest publicly traded hedge fund manager, the Man Group, is reportedly preparing to cut up to 10% of its workforce.  The firm, which earlier this month completed its $1.6bn acquisition of rival firm GLG Partners, reportedly let a “handful” of sales execs go, with potentially more layoffs to follow.  Layoffs could possibly go as high as 10% of the workforce - owing to the GLG merger. 

Unfortunately, any cuts will likely be directed more so at Man employees, than at former GLG staffers.  The time frame is uncertain.   Man said in September that it expects 1st-half profit to drop by more than 55%, as income from management and performance fees declined.  [NYT Dealbook, 10/25]