I think that equates to 1% of staff for every 8% move lower in VRX this year. Don’t worry, none of the gurus at Pershing have been let ago, ahead of national festivities, just the underlings–investors services, IT and other lowly staff. All of the men who helped destroy Pershing are, reportedly, still dutifully employed at the fund.
Source: WSJ
Mr. Ackman told his staff this week that the moves have nothing to do with the poor performance of the hedge fund, the people said. Instead, he said, the firm has gotten better in technology and automating tasks like filling out new-investor forms, reducing the need for employees. He added that he doesn’t anticipate any other big cuts, the people said.
Fired, due to technology. Move on.
GOOD NEWS: Pershing Square is moving into a brand new building, one that they own. See, they do know how to hedge, the good with the bad.
Congrats to Bill Ackman for successfully reducing overhead and on the new office space.
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I heard Robbie the Robot gets his own office with a view. Congratulations Robbie!
Gee, I wonder how many folks fired him?
his pool/lounge/rec room cost more than the employees…but hey, i guess that’s what makes America great.
I would love to work at The Pershing Square. By the looks of the photo, it appears that masturbation is not only tolerated, it is encouraged. Pocket pool in public is a favorite pastime at The Pershing Square. Literally everyone in that photo has their left hand in their pocket, searching for the ‘ol baloney goo funnel for a quick tug.
LOL
It’s been reported that they now have a robot that gives blowjobs, as a result 2 secretaries-both male-were let go.