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 |
|
Tuesday, July 21, 2009 Hartford Slims Down Again The Hartford is making another round of cuts, and it's unclear how the mutual fund unit is faring. The MFWire has learned that the Simsbury, Connecticut-based insurer eliminated nearly 270 positions last week from the division that includes mutual funds. "The Hartford's workforce reductions within our investment products division include a variety of job functions, including wholesaling," a Hartford spokesman told The MFWire in an emailed statement. "The reductions reflect the need to realign our expenses with the reduced volume of business that we have experienced in our investment products business, particularly variable annuities." The investment products division also includes annuities, as noted above, and retirement plans. For more on how the Hartford's retirement plans group is faring, read our sister publication, The 401kWire. Previously, Hartford laid off 500 employees, then two percent of its workforce, in November. Hartford worked with $28.7 billion in mutual fund assets as of March 31. Printed from: MFWire.com/story.asp?s=22094 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |