Oriel makes staffing cuts

David Hellier
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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.