Employment News
Western Bond Eliminates 100 Jobs
By Erik Even | Dated: 03-24-2009
Legg Mason’s Western Asset Management unit, the third-largest American manager of bond funds, has eliminated about 100 jobs, or 10% of its workforce.The Pasadena, California-based Western Asset manages $393 billion in bonds and $156 billion in money funds.
Western Asset lost $42 billion in bond-fund withdrawals in the last three months of 2008. Fixed-income assets fell 24% last year.
The cuts at Western Asset Management are separate from 220 dismissals that Baltimore’s Legg Mason made at the corporate level, an additional 50 at Legg Mason Capital Management, and 12 at Boston’s Batterymarch Financial Management.
Career Connect (From our other career blogs):
- Employment News (Sponsored by EmploymentSpectator)
- Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
- Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
- Layoff News (Sponsored by LayOffWatch)
Testimonial of the Week
What I liked about the service is that it had such a comprehensive collection of jobs! I was using a number of sites previously and this took up so much time, but in joining EmploymentCrossing, I was able to stop going from site to site and was able to find everything I needed on EmploymentCrossing.
- John Elstner Baltimore, MD
Sign Up now
Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.
- We have more jobs than any other job board.
- We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
- We collect jobs from more than 4,429,376 websites and post them on our site.
- We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.
