Monday, November 23,

7:38 am

  • Log in to The Deal Pipeline
  • Subscribe to The Deal magazine
  • Products & services

Finance Layoffs: Hartford Financial and more

E-Mail

Published July 27, 2009 at 9:35 AM

« Previous Story Home Next Story »

Despite some good news last week -- that the rate of mass layoffs is tapering -- downsizing continues to nip and gnaw at the financial sector:

Hartford Financial Services Inc. (NYSE:HIG) in Connecticut cut nearly 270 positions from its investment-products division in recent weeks due to slowing business, according to Dow Jones (via CNNMoney).

Old Mutual Capital (NYSE:OMCAP) is eliminating some administrative and sales positions as part of a plan that also includes trimming its mutual fund lineup within the next six to eight months. The job cuts at Old Mutual will not impact investment personnel, says Mutual Fund Wire.

But not all news Monday is bad news:

Japanese brokerage Nomura Holdings Inc. (NYSE:NMR) said it's hiring 240 people in North America this year, representing only the beginning of its growth plan, Deal Journal reports.

Also, check our job opening pick of the day from The Deal's Career Channel:

Director of Business Development at a Minneapolis-based alternative investment fund

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 or hiring rumors you are hearing. - Sara Behunek

See also:
Finance Layoffs: Unemployment data
Finance Layoffs: Harley-Davidson Financial
Finance Layoffs: Citigroup to lay off 500
Finance Layoffs: Lloyds and Beverly National
Finance Layoffs: GE Capital to lay off 127

Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.

More video...

	Industry Insight Managing your shareholder base By Bradford P. Weirick and Joelle Khoury, Gibson Dunn
Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.

	Industry Insight Easing the stress of distressed M&A By Derek Watson, KPMG
Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.

	Editor's Note Editor's letter: Nov. 16, 2009 By Robert Teitelman
Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.

Managing your shareholder base