The decision by Janus of Denver to eliminate 546 retail operations jobs will reduce the firm's costs by cutting salaries, but the savings will come at the expense of shareholders who may find it difficult to speak with a shareholder representative, according to industry analysts.

Since the beginning of the year, Janus has cut more than 1,000 positions, primarily in shareholder services and operations. Last week, the company announced it would close its call center in Austin, Texas, eliminating 400 positions. An additional 146 operating positions were eliminated in Denver.

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