In this economy, say you’re going to axe some 630 people, and everybody listens.

That’s just what happened when State Street [profile] announced with its earnings that it was going to lay off that many people to trim costs. It's not clear how much the cuts will impact State Street Global Advisors (SSgA), the bank's asset management and mutual fund shop.

The company reported fourth-quarter earnings rose 23 percent as higher servicing fees helped to offset lower trading-services and securities finance revenue, according to MarketWatch.

A slew of other publications took note, including Reuters; the Boston Business Journal; P & I; the Financial Times; the Boston Globe; South Coast Today, and the San Francisco Chronicle. 

Edited by: Tommy Fernandez


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