Westport-Based Bridgewater Associates Lays Off Dozens: Report

WESTPORT, CT — Bridgewater Associates, the giant hedge fund based in Westport, has laid off dozens of employees as the company grapples with losses in some of its funds, reports The Wall Street Journal.

Among the divisions that were hit with layoffs were research and client services.

According to CNBC's Carl Quintanilla, the company's flagship Pure Alpha fund was down by 13.6 percent through June, which likely contributed to the layoffs.

Read The Wall Street Journal story.