A number of staff at Woodford Investment Management have been informed they could be made redundant as the embattled firm enters its second month trying to save its £3.5bn flagship fund.
The firm, which employs approximately 45 staff, announced earlier this week that the Woodford Equity Income fund will maintain its suspension, with founder Neil Woodford admitting to investors that its noted transparency levels had become "more damaging" in the long run. Initially gated on 3 June, the fund's authorised corporate director Link Fund Solutions said on Monday (1 July) it would be monitoring the situation "on a daily basis" and will formally review the suspension with the depositary at least every 28 days. The affair has had a knock-on effect for the rest of the firm's off...
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