Bill Ackman’s hedge fund has laid off eight lower-level staffers, the Wall Street Journal’s David Benoit just reported.
Pershing Square Capital Management has faced a decline in performance this year.
Its publicly traded vehicle, which mimics the private hedge fund, is down 20.9% this year through June 21.
The New York activist firm had its worst year ever last year, slumping 20%.
The layoffs, which took place earlier this week, are not related to the performance drop, according to the Journal.
More to follow.
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