Putnam Investments is laying off 78 employees, or 4.4% of its workforce. The layoffs, primarily in operations, follow a 3% decline in assets under management, from $121 billion in 2010, to $117 billion in 2011.
The news comes on the heels of Putnam’s announcement that it expanded its wholesaling staff by 20% last year, bringing its total external wholesalers to 54 and nearly as many internally. Prior to the layoff, Putnam had a total of 1,767 employees.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access