Thomas Weisel Partners LLC

Thomas Weisel Partners is cutting almost a fourth of its workforce this year to cope with the economic slowdown. The San Francisco firm said over the first half of the year it will let go of about 160 employees, bringing its total workforce to approximately 600. The numbers tell the tale of woe at Weisel. The red ink was flowing in the first quarter as the company's revenue plunged 47 percent, to $48.9 million. The bottom line moved to a loss of $17.8 million from a profit of $5.4 million in the first quarter of 2007.