Hedge Fund Two Sigma Cuts 200 Staff After Strategic Review (1)

Two Sigma Investments will dismiss roughly 200 employees after the firm’s new co-chief executive officers conducted a wide-ranging review of the hedge fund’s business.

No portfolio managers were included in the dismissals, according to a person familiar with the matter, who asked not to be identified discussing personnel information. Thursday’s cuts represent about 10% of the firm’s roughly 2,000 employees.

Those affected were in the corporate, engineering, modeling and trading, and securities units, according to a memo to staff seen by Bloomberg News.

The cuts mark the first public, sweeping change made by co-CEOs Carter Lyons ...