A painful bear market and shrinking profit margins have forced nearly every mutual fund firm to consolidate operations and cut jobs in the past few years. With the unemployment rate sitting at 6.1%, it is difficult to sugarcoat what are clearly distressed labor market conditions.

Indeed, 21 months after the end of the recession, the U.S. economy is still shedding jobs, with 93,000 more people out of work in August alone. As companies scramble to finalize budgets for the next fiscal year, one has to wonder if more job cuts are on the horizon.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.