Tough Times for Duff Lead to 80% Job Cuts

"The future of Duff Capital Advisors, a hedge fund launched by former Morgan Stanley CFO Phil Duff, has been cast in doubt after the firm slashed staff even before it began to raise capital to make investments.

Duff, which at its peak employed 100 people, cut nearly 80 percent of its workforce last month, just nine months after opening its doors with some $500 million in seed funding from asset-management firm Lindsay Goldberg founders Robert Lindsay and Alan Goldberg."