MF Global Inc.’s workforce of 1,066 broker-dealer employees was fired as the failed brokerage closes its New York office and liquidates in an attempt to return assets to customers under the guidance of a trustee.
The broker-dealer, winding down since Oct. 31, will pay employees through Nov. 15, according to a statement today from the office of the trustee, James Giddens. As many as 200 former employees are being hired to assist in the liquidation of the broker-dealer, Giddens said.
Some employees of MF Global Inc., the broker-dealer unit of bankrupt MF Global Holdings Ltd., learned they were being fired from news reports, a person familiar with the matter said. The press release was distributed to and reported by the news media before all MF Global employees who were losing their jobs were notified, according to the person, who declined to be identified because they aren’t authorized to speak publicly on the firings