Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Legg Enacts an 8 Percent Solution Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 05, 2008

Legg Enacts an 8 Percent Solution

News summary by MFWire's editors

Bill Miller and Co got slimmer again today. The Baltimore Business Journal's Rachel Sams reports that Legg Mason just sliced eight percent of its staff, roughly 200 jobs, effective immediately.

The paper sourced the news to an internal memo that it obtained.

"We are saying goodbye to dedicated colleagues, team members, and friends who have shared in our successes and our challenges and who have helped us in the remarkable evolution of our global business," CEO Mark Fetting wrote in the email memo sent last night night. "Next week will feel different at Legg Mason. But we must stay clearly focused on the business at hand, and committed to performing at the highest level."

The cuts follow a reported 40 to 50-person layoff from Legg Mason Capital Management in October (see MFWire, October 30, 2008).

Meanwhile, Miller himself told Dow Jones earlier this week that he thinks the "bottom was made" already in the markets.

"Panic is really hard to sustain," Dow Jones quotes Miller as saying. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use