Schonfeld Cuts 15% of Staff After Exiting Millennium Talks (2)

Schonfeld Strategic Advisors dismissed 15% of its workforce to cut costs after abandoning deal talks with Izzy Englander’s Millennium Management earlier this week.

Among the highest-profile departures is Ben Melkman, a trader who scrapped plans for his own firm in order to join Schonfeld earlier this year.

About 150 employees were told Wednesday that they’re out of a job, according to a person familiar with the matter. Schonfeld, which started the week with a staff of about 1,000, is mostly cutting non-investment roles. Most of those affected worked for the technology team, which handles information technology, automation and ...