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Divya Nettimi’s Avala Global loses more staff despite a strong 2025

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Avala Global, launched by former Viking Global star trader Divya Nettimi, had strong performance numbers in 2025.

However, the firm has continued to lose staff.

Three investment analysts left in the second half of 2025, and Nettimi’s fund is set to lose two more senior executives in 2026, including the firm’s COO.

Avala Global, the $2 billion manager launched by Nettimi in late 2022, gained 22.1% in 2025, according to the firm’s year-end letter to clients, which was viewed by Business Insider. Several people close to the firm told Business Insider that the manager achieved these returns despite losing analysts Jordan Straff, Nadine Lin, and Michael Wang.

Straff was a longtime investor at Roberto Mignone’s Bridger Capital before joining Avala in early 2024, while Lin and Wang both joined from Steve Cohen’s Point72.

The manager will also lose its COO, David Angstreich, and top fundraiser, Rebecca Chia. Both are set to depart in the coming months, three people close to the firm tell Business Insider.

Angstreich and Lin did not respond to requests for comment, while Chia and Straff declined to comment. Business Insider could not reach Wang in time for publication. Avala declined to comment.

Angstreich has been with Avala since its launch, while Chia joined in mid-2025 after stints at Atalaya Capital and Third Point.

The letter highlighted the team’s “depth and experience” but made no mention of the departures or expected exits. The firm hired onetime Viking Global general counsel Andrew Genser as its in-house lawyer last year and added at least four new analysts in 2025, LinkedIn shows, including two end-of-year hires from private equity firm Clayton Dubilier & Rice.

“We believe we have laid a strong foundation for the next phase of our growth,” the letter reads.

Last June, Business Insider reported that a majority of Avala’s day-one team had left the firm, including the entire four-person investing team that reported to Nettimi. Three people who had previously worked at the firm told Business Insider they left because of a tense workplace environment that came from the top of the firm. While she declined to address the specifics around different employees’ exits, Nettimi told Business Insider last year that she was confident in her team and the process for finding and vetting new talent.

Nettimi, a former Forbes 30 under 30 honoree who spent years investing at Viking Global, has managed to make money despite the churn. The firm has made more than 20% in each of the three full years it has been trading, besting the S&P 500 and Nettimi’s former manager over the same period.

The firm’s most recent letter to investors stated that long-term holdings in stocks such as data-storage company Seagate Technology, German power company Siemens Energy, and Finnish sporting goods conglomerate Amer Sports were key in driving performance last year.




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The list of companies laying off staff this year includes Citi and Angi, with dozens of others like Meta warning of job cuts

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The year 2026 is just getting started, and layoffs are already underway.

Companies, including Angi, the company formerly known as Angie’s List, and the popular web tool Tailwind, have cut staff, citing the impact of artificial intelligence among the reasons for the layoffs.

More than 100 other companies, from Amazon to Nike to Verizon, have filed legally mandated WARN notices about job cuts to come in 2026, according to WARN Tracker. Some of the cuts are part of previously announced reductions.

This year’s cuts follow three years of significant workforce reductions across a broad range of industries, including tech, media, finance, and retail.

The moves come as artificial intelligence, public policy, and broader economic conditions present sweeping changes to the business landscape.

A World Economic Forum survey last year found that some 41% of companies worldwide expected to reduce their workforces in the next five years because of the rise of artificial intelligence. The survey also found that jobs in big data, fintech, and AI are expected to double by 2030.

Last year, Business Insider tracked layoffs at around 65 major companies, such as Amazon, Meta, Paramount, and Starbucks. In 2026, we’ll continue to track additional job cuts based on company announcements, WARN notices, and our own reporting.

Here are the companies with job cuts underway in 2026, listed in alphabetical order.

Angi is cutting 350 jobs

Angi, a contractor listing platform, was previously known as Angie’s List.

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Angi, the popular contractor listing site once known as Angie’s List, said in January that it was cutting around 350 jobs “to reduce operating expenses and optimize the organizational structure in support of long-term growth.” The company also said it’s making the cuts “in light of AI-driven efficiency improvements.”

In a January 7 SEC filing, Angi said that the cuts would save between $70 million and $80 million in annual spending. The layoffs will cost the company between $22 million and $30 million, according to the filing.

Citi’s job cuts continue this year


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Citibank said it will continue to cut jobs in 2026.

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Citi will cut more jobs this year as part of its plan to reduce its workforce by 10%, or 20,000 employees.

In a statement on January 13, the bank said that it will continue to reduce head count in 2026.

“These changes reflect adjustments we’re making to ensure our staffing levels, locations and expertise align with current business needs,” a spokesperson for Citi said.

The plan was detailed in the company’s January 2024 earnings report and could save the bank as much as $2.5 billion.

Meta is preparing for layoffs


The Meta Quest 3s, the standalone virtual reality headset developed by Reality Labs, a subdivision of the American company Meta Platforms, is exhibited at the Qualcomm pavilion during the Mobile World Congress 2025 in Barcelona, Spain, on March 5, 2025. (Photo by Joan Cros/NurPhoto via Getty Images)

Meta is preparing to slash jobs within its Reality Labs division as the branch’s cash burn continues.

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Meta is preparing to slash jobs within its Reality Labs division, the unit responsible for Mark Zuckerberg’s metaverse ambitions, three people familiar with the matter told Business Insider.

Two employees said that teams working on virtual reality headsets and Horizon Worlds, the company’s VR social network, will be disproportionately affected. The New York Times reported that roughly 10% to 15% of the division’s 15,000 employees are expected to be laid off, with announcements coming as soon as this week.

The cuts coincide with a high-stakes division-wide meeting scheduled for Wednesday. Meta’s CTO and Reality Labs chief Andrew Bosworth described the upcoming gathering as the “most important” of the year and urged employees to attend in person.

Tailwind cut 3 of its 4 engineers

Tailwind, a popular web tool, said it cut three of its four engineers in January, citing an AI-driven decline in revenue.

“75% of the people on our engineering team lost their jobs here yesterday because of the brutal impact AI has had on our business,” CEO Adam Wathan wrote in a GitHub comment on January 6 that made waves in the tech community.

Is your company conducting layoffs? Got a tip?


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Have a tip about company layoffs? Contact Business Insider reporter Dominick Reuter using a personal email address, a non-work WiFi network, and a non-work device; here’s our guide to sharing information securely.




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