Go Fish: Fisher Investments Throws 50 Back to the Pond

Fisher Investments, who is in a non-safe industry if you're hoping to keep your job, has decided to throw 50 people back into the job pool. This is in Canada and is additional to the estimated cut of 100 other staffers in the company.

Looks like the market has taken a toll on him and his investors, so they are likely to remain rich, but may be a little less spendy out there for the short term as they absorb these losses. As you saw in big ticket items and other areas catering to very wealthy individuals, they are seeing the recession this time too. That tells you that the recession is either deep, expected to be long lasting, or both.

This company used to manage almost $50 billion and now down to $30 billion. I would venture to say some of that would be market losses and others by redemption due to those market losses. With less money and clients to manage, layoffs were inevitable.

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