GreatWest says Putnam cutting 115 jobs in effort to reduce costs by

Great-West says Putnam cutting 115 jobs in effort to reduce costs by US$65M by The Canadian Press Posted Nov 15, 2016 11:50 am MDT Last Updated Nov 15, 2016 at 1:01 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email WINNIPEG – Great-West Lifeco Inc. (TSX:GWO) says Putnam Investments, its U.S. investment management operation, is cutting approximately 115 jobs in a bid to trim costs by US$65 million.The company says the reductions amount to about eight per cent of Putnam’s staff and will be primarily in its operations and technology areas.A small number of investment management professionals will also be leaving the company.Great-West, a member of the Power Financial group of companies, offers life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses.It operates under the Great-West Life, London Life, Canada Life, Irish Life, Great-West Financial and Putnam Investments banners. read more