MFMarketnews.com is keeping abreast of the industry's latest developments with postings twice a day. If you didn't log on last week here are some Web exclusives you missed:
* Hammered by declining equity markets, Pioneer Investment Management USA announced last week that it will slash its workforce by 8%. The layoffs, which are the first in the company's 73-year history, will result in the loss of 63 positions in three offices throughout the northeast and Midwest. Daniel T. Geraci, the firm's CEO, said the cuts were necessary because of the "depressed level of the equity markets."