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Article: Legg Mason cuts former Citigroup jobs, but where?
- Article from:
- Stamford Advocate (Stamford, CT)
- Article date:
- December 13, 2005
CopyrightCOPYRIGHT 2005 The Stamford Advocate. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Peter Healy
Dec. 13--Legg Mason Inc., the Baltimore-based investment house that acquired nearly all of Citigroup Inc.'s Stamford-based asset-management unit, plans to cut 300 to 400 jobs because of that acquisition, the MarketWatch news service said.
Alison Mackley, a spokeswoman for Legg Mason, said the company would not disclose where the layoffs will occur.
Mark R. Fetting, a senior vice president at Legg Mason who heads mutual funds, said last week that the layoffs were necessary because some job duties overlapped.
The former Citigroup Asset Management employs about 1,000 people at the First Stamford Place office complex. A ...