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ZURICH, Oct 3 (Reuters) – Swiss private equity firm Partners Group (PGHN.S) announced a revamp on Tuesday that a local finance blog said could lead to 300 jobs being cut by the end of 2024.
The Zug based firm declined to comment on the report by Swiss blog Inside Paradeplatz but said the organisational review would address areas of “unnecessary complexity or overlaps in responsibilities” if any are identified.
“This is not a cost-cutting exercise,” a spokesperson said, adding the review and any resulting actions would take place in 2024 and 2025.
“This is something every growing company must do from time to time and there are no targets in place beyond the ambition to optimize an already well-performing business,” the company said in a statement.
Partners Group averaged 1,877 full-time equivalent employees in the first half of 2023.
Reporting by Noele Illien
Editing by Mark Potter
Our Standards: The Thomson Reuters Trust Principles.
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