London hedge fund Eisler is laying off 15% of its staff, hoping to use this opportunity to reduce costs.

Eisler Capital has laid off about 15% of its employees in an effort to reduce costs amidst a decrease in assets and trading losses. According to a source familiar with the situation, this decision has affected approximately 45 employees at the London-based investment firm, mainly in technical, middle office, and back office roles, as the company is utilizing technology to fill the personnel gaps. The layoffs also include about five investment professionals who manage around 3% of Eisler's $3.5 billion in assets.