AllianceBernstein Eliminated 237 Positions in First Quarter

AllianceBernstein announced Tuesday that it eliminated 237 positions in the first quarter, ending with a staff of 4,760, down from 4,997 at the beginning of the year. Thirty-one of the positions eliminated were held by investment professionals, including analysts, portfolio manager, chief investment officers, research directors and traders.

AllianceBernstein expects to cut an additional 75 staff in the second quarter, most of whom will be non-investment staff, who now number 530.