Evercore to Slash 6% of Workforce, Is Reviewing Operations

Evercore Inc. plans to cut about 6% of its workforce in the first quarter and is weighing an overhaul of operations in certain smaller markets.

Costs related to the cuts will be $38 million, $2.9 million of which was recorded in a special expense last year, the New York-based M&A advisory firm said Wednesday in a statement. Evercore had 1,900 employees at the end of September, so a 6% cut would affect more than 100 workers.