Westport-Based Bridgewater Associates Lays Off Dozens: Report

WESTPORT, CT — Bridgewater Associates, the Westport-based hedge fund considered to be the world's largest, laid off 7 percent of its workforce on Monday, or about 90 employees, The Business Times reported, based on information from Bloomberg.

The move is reportedly part of an effort for the company to remain lean and maintain flexibility, which would allow the financial firm to hire top talent, according to the publications.

"This includes doing hard things during good times, like holding a high bar and keeping the organization nimble," a spokesperson for Bridgewater told Bloomberg.

As of Tuesday morning, the layoffs had not been posted among the state's Worker Adjustment and Retraining Notification reports.

In the spring of 2023, Bridgewater laid off roughly 100 employees, in an effort to clear space within the company for future growth, officials said at the time.

Read The Business Times story; read the Bloomberg story.