Putnam Investments said Monday it would cut about 100 jobs, an announcement that came a week after parent Marsh & McLennan Cos. said it would lay off 3,000 workers across all its units. Marsh & McLennan, the largest U.S. insurance broker, said last week that it would cut about 5% of its workforce because of fallout from a bid-rigging probe by New York Atty. Gen. Eliot Spitzer. Boston-based Putnam said the 100 jobs it would cut would be spread across all its operations, which employ a total of 5,000 workers.
From Associated Press