Pimco Axes 3 Percent Of Global Staff As Assets Decline

[kreslik.news]

Pacific Investment Management Co (Pimco) has cut its workforce by 3 percent, equating to 68 people and is said to be offering buyouts as assets under management have fallen in recent years.

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Spokesman Michael Reid said in a statement, “Like any responsible business, Pimco constantly adjusts its resources to capitalize on changing markets and investment opportunities for clients. Our current business plans will reduce expenses in some areas while, of course, ensuring investment and hiring in others.”
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