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D.E. Shaw Upbeat Despite Cutbacks

Traders Magazine, December 1998

Staff Reports

The financial losses at its hedge fund last October are showing up on D.E. Shaw & Co.'s balance sheet and payroll, with cutbacks and the elimination of 25 percent of the firm's 1,069 headcount.

But the New York-based firm is upbeat about the prospects for growth this year in its quantitative proprietary trading and U.S. institutional equity-trading activities.

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