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Rating:Another Boston Fund Firm Trims its Headcount Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, November 20, 2008

Another Boston Fund Firm Trims its Headcount

Reported by Armie Margaret Lee

MFS Investment Management has cut 90 jobs, or 5 percent of its workforce of 1,800, spokesman John Reilly confirmed to The MFWire. The cuts affected a "very small number" of investment professionals, none of whom are involved in MFS's core products, Reilly said.

The layoffs also had "very little impact" on client-facing roles, he added.

Affected employees left the Boston investment manager on Thursday.

The cuts come "in response to the decline over the past 12 months in capital markets that has affected the firmís assets under management, and is part of an overall effort to keep costs in line with revenues," according to an MFS statement.

The last time MFS implemented cuts was in 2002, when it laid off 4 percent of its workforce. 

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