MFS will eliminate 110 positions, or approximately 4% of its base of 2,700 employees, the company has announced. Like most other fund companies that have cut jobs, those affected are in the service, administration and back-office area. No investment management personnel will be affected.

" MFS has been fortunate to avoid layoffs since the market decline began in 2000, as net flows to the firm have remained positive by over $40 billion," the firm said in a statement.

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