Newsletter Signup

Search Our Blog

LPL Cuts Workforce and Delays Raises for Employees

By Erwin J.Shutak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, December 30, 2015.

LPL Financial announced this week it was doing more belt-tightening and has eliminated 70 jobs and is delaying salary increases for employees for at least 6 months.

LPL’s CEO, Mark Cassidy, announced in October to investors that the firm intended to keep a sharp eye on growth of expenses during 2016 and to launch a  $500 million share buy-back. 

These cost saving measures no doubt are at the behest of, and part of an effort by Marcato Capital, the hedge fund that purchased a 6.3% stake in LPL, to improve the bottom line. After all, hedge funds don’t make huge investments in companies to have them stay lax on the bottom line.

Shustak Reynolds & Partners, P.C. has extensive experience in the area of securities and financial services law and routinely counsels investors, brokers, broker-dealers and registered investment advisors. For more information  contact Erwin J. Shustak, Esq, Managing Partner, at 619.696.9500 or via email at [email protected] or visit our web site at www.shufirm.com

Share This Article linkedin