Recipient of CT state funding for retaining jobs, cuts 7% of workforce

Bridgewater Associates, the world's largest hedge fund, with $112 billion assets under management and headquartered in Westport, CT, is cutting its workforce. The job cuts amount to 7% of its employees, or about 90 of its 1,200 workforce.

According to the Greenwich Time, the firm has received a significant amount of state aid in recent years in exchange for meeting targets for creating and retaining jobs in the state.

While the firm is not seeking further state funding, the firm has kept $12 million in tax credits, $5 million in grants and $11 million in loan forgiveness (i.e. a grant)

Between the Lines - How does the every day tax paying CT resident get in on this gravy train?

Story here