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Asness’s AQR Cuts Jobs After the Quant Firm’s Dismal Year (1)

Jan. 9, 2019, 1:37 PM

AQR Capital Management, the giant quantitative fund manager run by Cliff Asness, is cutting jobs after a year of poor performance.

The firm-wide reductions will amount to a low single-digit percentage of the workforce, according to a person familiar with the matter. The firm, which managed $226 billion at the end of September, had more than 1,000 employees across its global offices, according to its website.

“At AQR, we have experienced record headcount growth over the past three years, including 2018,” the company said in a statement Tuesday. “Recent small reductions in headcount reflect the need to balance our ...