March 26, 2009

Legg Mason, largest division lay off more than 100

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.

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.

Soruce: San Jose Mercury News

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