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

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

Rating:Job Cuts Continue at a Baltimore Fund Firm Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 11, 2009

Job Cuts Continue at a Baltimore Fund Firm

Reported by Armie Margaret Lee

Legg Mason cut another 22 jobs last week, including 20 at its Baltimore headquarters, a company spokesperson confirmed to The MFWire.

The affected employees were in mutual fund administration roles. The cuts also impacted two employees in the firm's New York office.

Legg Mason on Tuesday reported its fifth straight quarterly loss.

The layoffs are the latest in a string of cuts at Legg Mason and its subsidiaries. Since September, Legg and its subsidiaries have lost 565 employees, or 13 percent of the total workforce.

Last month, Legg Mason cut 40 jobs, affecting 12 percent of the company's product and marketing support staff (see The MFWire, 04/20/09). In March, it laid off 20 workers in the mutual fund administration department and around the same time, Legg subsidiary Western Asset Management laid off around 100 workers, or about 10 percent of its headcount (see 03/24/09).

Legg in December laid off 200 employees, or 8 percent of its staff (see The MFWire, 12/05/08). In October, Legg Mason Capital Management, the unit led by Bill Miller, trimmed 40 to 50 jobs, representing a third of its headcount (see 10/30/08). 

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
2018: Q2Q1
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. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use