MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, March 21, 2001 Putnam Lightens Load Amid the rumors of hundreds laid off, Putnam Investments confirmed that 21 cleaned out their desks yesterday, from several departments and at various levels across the company. A spokesperson declined to specify what departments experienced cuts. The Boston, Massachusetts-based fund firm characterized the shakeup as a normal routine in evaluating employees, while acknowledging the falling market's partial role. The spokesperson declined to estimate the cost savings resulting from the cuts. At approximately $343 billion, Putnam's assets under management have taken numerous hits since 1999, when year-end assets stood at $391 billion, and after 2000 at $370 billion. Putnam's profile has been high, with a strong stance against market-timers bringing its name farther forward. Printed from: MFWire.com/story.asp?s=26443 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |