Two Sigma technologists are commiserating their colleagues
Two Sigma is cutting 200 people. While no one is really happy when cuts happen, there is a rather different emotion going around current (ish) and former employees at the firm; a kind of forlorn sorrow.
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“It sucks now,” said Laura Mahalel, the hedge fund’s former head of engineering education, who already left a few months ago, in a social media post. “You’re going to go through all of those feelings of loss, shock, denial, grief, anger, confusion,” she said. “Allow yourself to feel whatever you’re feeling and know that it is all OK and that it will pass. You are not alone. Don’t rush to sign anything. Do take care of yourself.”
It’s not just former employees that have been offering support. Makoto Nozaki, a current Two Sigma tech risk senior VP said that “if you've recently been laid off, I want you to know that I'm here to support you in any way I can.” He offered to help by “reviewing your resume, providing a recommendation, connecting you with someone in my network, or simply brainstorming next steps together.”
Laid-off employees of the quant hedge fund seem to be taking their new situation with a much lighter heart than their mournful colleagues. “As of today, I am on the market for new opportunities,” said Diego Torres Quintanilla, the firm’s (former) technical and team lead for the python research environment.
What might be less commiserating to the fund’s cut staff is the fact that it’s still hiring. Ouch. And it’s not just hiring in the untouched roles (portfolio managers) but also in areas that got wholesale cuts, such as technology.
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