has let laid off another 60 workers. The latest cuts represent fewer than one percent of the 5,700 employees at the Boston-based fund firm.
The cuts were made "across the company" after each business unit conducted its annual review of its operations, a Putnam spokesperson told the MFWire.com. The reviews are conducted by the firm's businesses each year. "It was minor adjustments as part of the normal course of business," added the spokesperson.
The firm did not provide details on which units were specifically hit by the cuts.
The cuts did include some quantitative reseach staff members and at least one portfolio manager, according to the Boston Globe
. The manger was Margery Parker. She was one of four portfolio managers on the firm's $3.4 billion Vista fund.
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