Capital Group Preps More Pink Slips
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Tuesday, March 17, 2009

Capital Group Preps More Pink Slips

Another round of layoffs lies around the corner at American Funds. A spokeswoman for Capital Group confirmed that the Los Angeles-based fund giant will make a round of cuts "before the end of this fiscal year." (Cap Group's FY ends June 31.)

The spokeswoman declined to discuss the size of the planned cuts, but she confirmed that the asset manager currently has almost 9,000 employees.

Capital Group already laid off about 500 employees earlier this year and 60 in the fall (see MFWire, 11/21/2008 and 2/4/2009).

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