American Skandia has made broad-based cuts affecting all areas of its business, including an anticipated reduction to its wholesaling staff. Several weeks ago, the Shelton, Conn-based firm laid off 11 wholesalers, and last week it instituted a series of staff cuts throughout the organization amounting to approximately 12% of its employees.

Tim Klahs, director of investor relations, declined to give firm numbers, but confirmed that since the first round of layoffs were announced last spring, about 120 jobs have been cut out of approximately 1,000. The layoffs have taken place across the firm, with the exception of personnel working in the firm’s new customer service facility in Denver.

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