Invesco trims 1,300 jobs after Oppenheimer deal

Etats-Unis
On the 10.07.19 at 12:47PM

by

Tuba Raqshan

The asset manager has laid off 12% of its combined workforce after the OppenheimerFunds deal earlier this year, to meet its annual cost-savings target of $475m.
Martin Flanagan, chief executive, Invesco

The layoffs include 850 staff from OppenheimerFunds Denver office focussing on administrative functions while the rest will be Invesco staff, according to Bloomberg.

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