There are more reports of layoffs in the finance industry Wednesday. The latest firms to issue pink slips include bankrupt consultancy BearingPoint Inc., troubled hedge fund D.B. Zwirn & Co. and mutual fund manager Franklin Resources Inc. (NYSE:BEN).
- Franklin Resources, a U.S. mutual fund company better known as Franklin-Templeton, has laid off 10% of its workforce since October, according to Reuters.
- D.B. Zwirn's $2.5 billion in hedge fund assets will be taken over by Fortress Investment Group LLC. The assets will be liquidated, according to Bloomberg. No word on how many employees are there.
- BearingPoint employees are job hunting as the firm winds down under Chapter 11 bankruptcy protection, according to the Washington Business Journal.
It's rough out there, but there are jobs to be found. The New York Fed is seeking a financial analyst/corporate bond analyst, according to Zero Hedge, and Bank of New York Mellon Corp. (NYSE:BK) is hiring staff for its China fund management joint venture, according to Reuters.
For a roundup of all the announced layoffs to date, check out The Deal's Pink Slips on Wall Street Dealwatch or any of the links below. Also feel free to leave us any layoff tips or rumors you are hearing. - Maria Woehr
(Follow me on twitter or send me tips: @newsgirlmw)
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