Employment News
Capital Group Cutting 820 Jobs
By Erik Even | Dated: 06-05-2009
Los Angeles’ Capital Group, owner of asset manager America Funds, will cut 820 jobs, nearly 10% of its workforce.The layoffs are taking place this week and next week. The company employs about 9,000 people worldwide.
America Funds and other asset managers have seen investors yank record amounts of money from mutual funds due to the financial crisis. Capital Group managed $850 billion in assets in March, down from $1.2 trillion in 2007.
Capital Group cut 500 jobs in February.
The Capital Group Companies is one of the world’s largest investment management organizations. It is a group of investment management companies, including Capital Research & Management, American Funds, Capital Bank & Trust, Capital Guardian, and Capital International. The firm was founded in 1931 by Jonathan Bell Lovelace.
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
EmploymentCrossing provides an excellent service. I have recommended the website to many people..
- Laurie H Dallas, TX
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.
