Thomas Weisel Partners is to shed more than an eighth of its staff in the next fortnight, bringing cuts since the start of the year to roughly 160 people or more than 20% of the US financial boutiqueâÂÂs workforce.
Thomas Weisel revealed the layoffs in its first-quarter results statement last night, which showed the group plunged to a $17.8m (â¬11.4m) net loss in the three months to March as revenues nearly halved on the back of a collapse in investment banking and asset management business.
