Two more Boston financial companies disclosed large rounds of layoffs yesterday, the latest in a wave of cuts sweeping the local investment industry in the wake of plunging stock markets.
State Street Corp. said it plans to eliminate 1,600 to 1,800 positions over the next several months, or about 6 percent of its workforce. Separately, Wellington Management also confirmed a cut, reportedly 10 percent of a 2,100-person workforce.
Fidelity Investments is in the midst of eliminating 3,000 jobs, and MFS Investment Management is cutting about 90. The Chicago staffing firm Challenger Gray & Christmas reported yesterday that financial firms cut 91,356 jobs in November, the largest monthly reduction since September 2001, when 96,333 positions were eliminated.
Makes me feel like stringing up some cheery Christmas lights.
No comments:
Post a Comment