Stark & Roth LLC, the parent company of Stark Investments in St. Francis, notified state and local authorities today that it will eliminate 58 jobs at its posh lakefront headquarters.
The investment company said the layoffs will happen because of its decision to “wind-down its multi-strategy funds.”
In a notice filed with the Wisconsin Department of Workforce Development, the company said the closure of the funds is happening because of “unforeseen business circumstances.”
The company said it will lay off 28 employees on July 17, and the remainder will lose their jobs later this year.
The affected employees will be offered a severance package that exceeds 60 days’ worth of their current base salaries.
The people losing their jobs include various analysts, directors, portfolio managers, traders and administrative staff.
Stark bought the former Harnischfeger Industries headquarters at 3600 Lake Drive in 2003.
The company’s co-founders are Brian Stark and Mike Roth. They could not be reached comment on today’s announcement.
