Perella Weinberg to cut 10% of workforce in strategic reshuffle, source says
Perella Weinberg to cut 10% of workforce in strategic reshuffle, source says May 27 (Reuters) - Financial advisory firm Perella Weinberg Partners PWP.O said on Wednesday it would lay off about 10% of its employees, including 12 partners, as part of a strategic reallocation of resources, a source familiar with the matter told Reuters.
The layoffs will affect around 60 employees, including some partners in the firm's Los Angeles office, the source said. The firm is also shifting certain senior staff into vice chair roles.
The changes are not primarily aimed at reducing costs but are intended to redirect capital and investment toward higher-growth areas, the source added.
The firm last undertook similar restructuring efforts in 2023 and 2020.
(Reporting by Milana Vinn and Katha Kalia in Bengaluru; editing by Alan Barona)
((Katha.Kalia@thomsonreuters.com))
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