MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, June 9, 2009 Cap Group Cut Details Emerge in Texas Capital Group's latest round of staff reductions hit at least one of its customer service centers. The San Antonio Express-News' L.A. Lorek reports that the Los Angeles-based American Funds manager laid off 94 employees in San Antonio, Texas, as part of company-wide cuts of 820 positions total that came to light last week (see MFWire, 6/3/2009). "Our assets under management have declined," Capital Group spokesman Chuck Freadhoff told the Express-News. "We built an infrastructure for a much higher asset level." According to the paper, Capital Group boasts 1,400 employees in its seven-building San Antonio customer service center, out of 9,000 worldwide. Printed from: MFWire.com/story.asp?s=21746 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |