MutualFundWire.com: Signing Off at John Hancock
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Monday, May 06, 2002

Signing Off at John Hancock


Will John Hancock be making additional cuts to its workforce? Odds are yes, at least according to an article that appeared in The Boston Herald over the weekend.

The news came when David D'Alessandro, ceo at the firm, spoke with analysts on a conference call Friday. He noted that the firm would be looking at expenses in the coming weeks. D'Alessandro would not put a specific figure on how many employees might be receiving pink slips, but he did say that the cuts would begin in 30-60 days unless the stock market started showing some improvement.

In January, Hancock laid off 160 workers, or approximately two percent of its workforce. Most of those workers were located in Boston.

Hancock went public two years ago.


Printed from: MFWire.com/story.asp?s=2507

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