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

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

Rating:MFS Whets the Axe Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 04, 2002

MFS Whets the Axe

by: Sean Hanna, Editor in Chief

MFS Investment Management may be the next fund firm to cut staff, according to a Reuters report. If so, it would be the fourth firm this week.

The report quotes an MFS spokesperson as explaining that the Boston-based firm is looking at many ways to cut costs and that some reduction in headcount may be one way. The Sun Life of Canada unit employs 2,679 workers.

Any cuts would take place outside of the firm's ranks of investment professionals.

Assets under management at the firm have slipped 16 percent to $115 billion from $138 billion at the end of June, according to news reports. The spokesperson told Reuters that flows into the fund remain positive and that the fall in assets in a result of depreciation.

This week started with Fidelity announcing that it would cut 5.4 percent of its staff. San Diego-based Nicholas-Applegate also announced layoffs yesterday. American Century and State Street have also cut staff in the past this Fall.  

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

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
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:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use