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Friday, October 24, 2008

Turner Trims its Headcount

News summary by MFWire's editors

Turner Investment Partners on Thursday slashed 22 jobs, a company spokesman confirmed to The MFWire. The headcount reduction affected Turner's distribution and business services teams. The investment team was not affected.

The job cuts were implemented six days after Berwyn, Pennsylvania-based Turner withdrew its registration statement with the SEC for an IPO.

The headcount reduction is a "direct reflection of the financial crisis," the spokesman said. "Our revenues have declined."

Thursday's layoffs brought the number of Turner employees to 113. 

Edited by: Armie Margaret Lee


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