Legg Mason layoffs
Money manager Legg Mason Inc. and its largest division have laid off a total of about 120 people.
About 100 of the jobs lost were at Legg Mason’s Western Asset Management Co., based in Pasadena, Calif. That company focuses on fixed-income funds. Spokeswoman Mary Athridge says Western Asset Management made a “difficult decision to right-size its staff to reflect its business needs.”
Legg Mason laid off 20 of its mutual fund administration employees, including 12 at its Baltimore headquarters. The other eight were based in New York.
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