New York-based JPMorgan Asset Management Holdings Inc. has filed a WARN (Worker Adjustment and Retraining Notification) with the State of New York declaring their intention to layoff 52 employees at their affiliate Highbridge Capital Management by September 30, 2019. The layoffs affecting employees in the alternatives unit are attributed to Morgan’s restructuring of Highbridge to “refocus on corporate debt investing.”
The company had previously announced their intention to convert its multi-strategy fund to focus on credit offerings to meet the challenges of growing market uncertainty and changing investor preferences. A company spokesperson noted, “As markets and clients evolve, we continue to innovate and examine our alternatives offering to ensure we deliver the solutions clients want and need today and into the future/”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?