Institutional trading platform Liquidnet has laid off five per cent of its US staff, losing 22 jobs from a roster of 408 employee positions.
"We have benefited by investing through the downturn and have created efficiencies in our technology offerings while building new offerings," Seth Merrin, the company's chief executive officer and founder, said in a statement sent to Bloomberg News. "Some skill sets were not transferable."
The privately-held firm was voted the 27th-best company to work for by by Crain's New York Business in 2009.