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Oriel makes staffing cuts
ORIEL Securities yesterday trimmed its workforce by around 10 per cent in response to the uncertain market conditions that have hit so many of the City’s financial services firms.
“[I]t is important that the firm’s cost base is efficiently managed and this has, regrettably, resulted in a number of redundancies,” said the firm. Unlike some of other investment firms, Oriel continued to hire into the downturn.