Perella Weinberg Partners is cutting about 7% of its workforce to free up funds for hiring banking talent, Sonali Basak of Bloomberg reports, citing a person with knowledge of the plans. The move affects employees across all levels of the investment bank and will impact less than 50 people, the source said. A mix of banking and corporate functions will be cut, the author notes. Perella Weinberg shares are down fractionally in afternoon trading.
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