Citadel Securities Cuts Almost 10% of Employees After Review

Citadel Securities, a unit of Citadel LLC in Chicago, has fired about 10 percent of its staff.

Matt Cushman, a senior managing director who joined the firm in 2011 from Knight Capital Group Inc., was among more than two dozen people who lost their jobs, including five last week, according to a person with direct knowledge of the cuts who asked not to be named because the matter is private. The reductions affected between 25 and 30 people, Katie Spring, a spokeswoman for the company, said by phone. The unit now has about 275 employees, she said.