Putnam Investments announced last week that it will lay off approximately 100 people across all areas of the company, "to improve the operating efficiency of Putnam," Chief Executive Officer Charles Haldeman said in a statement.

The announcement comes on the heels of parent company Marsh & McLennan Co.'s third-quarter earnings report, in which it indicated that a 94% falloff in earnings would force it to cut 5% of its workforce, or 3,000 jobs. At that time, MMC indicated it would eliminate as many as 750 positions at Putnam and its Mercer human resources consulting unit. The latest cuts come on top of 700 positions that Putnam has eliminated this year.

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