American Funds will lay off an additional 500 people this year, on top of the 500 who lost their jobs in January. That will leave the 80-year-old firm with a workforce of about 8,500.

The jobs that were cut earlier this year were mostly in technology and service support, but the new positions will be across the board.


The firm said it was making the reductions in light of the economy and the need to cut costs.

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