Wellington Management cut about 5% of its staff, becoming the latest money manager to pare headcount as the industry adjusts to volatile markets after a tough 2022.
The move followed a strategic business review of investment needs and ways to become more efficient, the Boston-based firm, which manages more than $1.1 trillion of client assets, said Thursday in an emailed statement.
The cuts are across different roles and locations at the firm, which has about 3,400 employees globally.
