MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, December 7, 2001 Fund Industry Frost Reaches Kansas City American Century is making a second round of cuts. This time the firm will eliminate 90 positions. The jobs cuts will come from the firm's technology, including its eCommerce, and marketing staffs. The 90 jobs represent about 3 percent of the firm's 3,100 member workforce. The firm also will institute a salary freeze for 2002 salary. It is also delaying construction of a new campus that had been planned. Finally, it plans only limited hiring in the coming year. The firm eliminated the positions of 68 workers in a pair of November reorganizations. The moves are a reaction to the downturn in the equity markets. Although the Kansas City-based firm says it has not lost accounts, its assets have declined to $90 billion from $102 billion at the start of the year. Printed from: MFWire.com/story.asp?s=27240 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |