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

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

Rating:Putnam Slashes 100 Jobs Not Rated 4.0 Email Routing List Email & Route  Print Print
Monday, November 15, 2004

Putnam Slashes 100 Jobs

by: Theresa Sim

The Boston fund firm has announced that approximately one hundred employees will lose their jobs. Putnam officials stated that the cuts would hit employees "across all areas" of the company.

The cuts were effective as of Monday and affected every location and every division of Putnam, said spokeswoman Sinead Martin.

"[The cuts] are necessary in order to operate competitively. The changes were made entirely to improve the operating efficiency of Putnam. We are providing every affected employee with severance and outplacement support," stated Putnam Investments Chief Executive Charles "Ed" Haldeman.

Marsh & McLennan said last week that it would eliminate 3,000 jobs across its organization, but that job cuts at Putnam would be minimal.

It was not immediately clear whether Putnam's job cuts were included with Marsh's earlier announcement, or whether the job cuts are in addition to Marsh's previously announced cuts.

In other organizational changes, Putnam has named Josh Brooks, currently head of Global Equity Research and chief investment officer of core equities, as head of chief investment officer of Large Capitalization Equities.

Putnam also announced that three of its portfolio managers are leaving the firm: Walt Pearson, on the management team of the Voyager Fund and the Growth Opportunities Fund; Cole Lannum, on the management team of Classic Equity Fund; and George Maris, on the management team of the Convertible Income-Growth Fund, the High Income Bond and the High Income Opportunities Fund.  

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

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
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. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use