It looks like John Hancock's mutual fund business may see an influx some new but familiar faces. The Boston Globe today reports that the firm is laying off some 116 positions within Boston.

The cuts are reportedly coming in the insurer's annuity business.

According to the report, some workers are being shifted some into the mutual fund business, which continues to grow.

Keith Harstein, chief executive officer of John Hancock Funds [see profile], was not immediately available to comment on the report.

The firm told the MFWire that the cutbacks are part of its efforts to streamline operations and restructure its annuity business. It currently employs some 3,750 workers in Boston. 

Edited by: Hung Tran


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