About two-thirds of the staff cut was through layoffs last year. The remaining third came through attrition. And last month, Janus announced it was cutting another 222 jobs in its Denver retail shareholder servicing department (See MFMN 2/4/02).
In February, the firm said that it was reacting to an overall trend in the industry where investors are increasingly turning to intermediaries for advice about what mutual funds they should buy. As a result, the Denver-based company said activity in its direct channel had declined markedly.
