"US Asset Managers Face Layoffs and Branch Closures Amidst Investor Safety Concerns"
TL;DR Summary
US asset managers are implementing a new round of job cuts as investors seek safety amid market volatility, with firms such as BlackRock, State Street, and Invesco announcing layoffs in response to the economic downturn caused by the COVID-19 pandemic. The asset management industry has been hit hard by the crisis, as investors have pulled out billions of dollars from funds, leading to a decline in revenue and profitability.
- US asset managers launch new round of job cuts as investors seek safety Financial Times
- Charles Schwab announces layoffs, S.F. branch closure in latest wave of Bay Area cuts San Francisco Chronicle
- Schwab 2,000-layoff aftershocks roil the industry as it's revealed top tech talent -- led by widely regarded veteran Kartik Srinivasan -- were axed, raising questions about future of Schwab innovation RIABiz
- Charles Schwab lays off 5%-6% of staff, impacts felt in Denver - Denver Business Journal The Business Journals
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