It's hardly surprising that hedge funds are in layoff mode. Headhunters say it's unclear how deeply hedge funds will cut, and many of the layoffs have been enacted stealthily. IDD reports that many funds have already reduced non personnel costs, notably on travel, but head count remains the most efficient way to downsize. In some cases, funds are cutting in some areas--such as convertible arbitrage--but they're hiring in areas such as distressed debt. This kind of paring apparently has expanded to prime brokers.

For more:
- here's the IDD article [1]

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