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Rating:A New Round of Layoffs Hits Franklin Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 22, 2009

A New Round of Layoffs Hits Franklin

Reported by Armie Margaret Lee

Franklin Resources is cutting 350 jobs, or about 4 percent of its global staff, company spokeswoman Stacey Johnson confirmed to The MFWire. San Mateo, California-based Franklin informed employees of the headcount reduction on Wednesday. The cuts come in the wake of a 2 percent staff reduction announced by the company in October last year.

Further comments on the cuts will be provided in Franklin's earnings call slated for January 28.

Last week, Franklin announced that AUM declined 18 percent in the fourth quarter, to $416.2 billion.  

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