Posted inBusiness moves

Wellington cuts 5% of staff – reports

The Boston-headquartered investment manager plans to eliminate around 170 roles, according to media reports.
Strong woodcutter cuts tree in forest, wood chips fly apart. Blurred background

Wellington Management has cut 5% of its headcount globally, according to multiple media reports.

The Boston-headquartered investment manager currently has roughly 3,400 staff globally so the cuts would equate to around 170 roles.

According to the media reports, the roles are not located in any particular business areas or geographies.

Asset managers have been cutting staff in recent months after a torrid 2022, which saw assets under management and profits nosedive.

Earlier this year, BlackRock planned to cut around 2.5% of its workforce or 500 jobs.

Wellington did not respond to a request for comment from FSA.

Part of the Mark Allen Group.