Galapagos Capital layoffs and AI

Investing.com (6 November 2026), reporting Bloomberg: "Galapagos Capital has eliminated 45 roles across its global operations, parting with roughly 9% of its workforce as part of a broader efficiency drive, according to a Bloomberg report citing people familiar with the matter. The São Paulo-based asset manager is targeting operational streamlining through the expanded adoption of artificial intelligence while navigating persistent market headwinds." The same report: "Galapagos is aiming to lower annual expenses to approximately 160 million reais ($29.04 million) in 2027 from roughly 195 million reais ($39.39 million) this year, largely driven by process automation and technical simplification." No statement by Galapagos Capital is quoted.

Galapagos Capital, a São Paulo-based asset manager with offices in Miami, Geneva and elsewhere, has cut 45 roles across its operations, about 9% of its staff, Bloomberg reported on 6 November 2026, citing people familiar with the matter; the cuts include about six of 35 investment-banking positions (mostly analysts, plus two interns), eight back-office staff and about seven asset-management roles. According to Investing.com's account of that report, the firm is streamlining its operations through wider use of AI while facing high Brazilian interest rates, and aims to cut its yearly expenses to about 160 million reais in 2027 from about 195 million reais, largely through process automation. No free report quotes Galapagos Capital itself, so the link to AI comes from the reporting (Blamed), and the number, from people familiar with the matter, is not counted. The firm is still hiring in securitization, investment solutions and technology; whether it confirmed the cut or its reasons to Bloomberg, whose report is for subscribers only, is not known.

Roles the sources name:

Investment banking analysts and two interns, about six of 35 positions (per Bloomberg, citing people familiar with the matter, as reported by Investing.com); Back-office staff, eight people (per the same report); Asset-management staff, about seven roles mostly on equity-strategy teams (per the same report)

Share of the workforce:

about 9% (per people familiar with the matter, as Bloomberg reported; not a figure Galapagos Capital gave)

Where:

Brazil (global operations)