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 20, 2002 What is Up at BoNY? The Bank of New York is reducing the number of people it employees, a spokesperson with the firm told the MutualFundWire.com. He, however, denied reports in other outlets that the bank was instituting widespread layoffs. "We are reducing the number of staff mostly through attrition," he contended. "The attrition will be across the board and not focused on any one particular area of business." As to why BoNY is making this move? "We grow or shrink our staff in response to the economic climate. The climate right now is one of recession," he responded. The spokesperson would not comment beyond that. Another report stated that bank would be laying off hundreds, including those employed in mutual fund services. Printed from: MFWire.com/story.asp?s=27371 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |