3i Group Plc (III), Britain’s oldest private-equity investor, may cut at least 160 jobs, about 40 percent of its employees, in an overhaul to revive profit, according to a person with direct knowledge of the plans.
“This would be a drastic scale-back,” said Iain Scouller, an analyst at Oriel Securities Ltd. in London, who met with Borrows last week and expected a 20 percent job reduction. “Borrows is moving more quickly than anticipated, with a blank sheet of paper. There are no sacred cows.” Full story
