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Over the past month, it’s become clear that layoffs are underway at State Street, BNY Mellon, BlackRock and Julius Baer — the result of passive investment strategies, volatile markets and tighter margins, and major efforts to cut expenses.
As the new year got underway, some staff members at A-list financial services firms got pink slips instead of bonuses as more firms lay off staff — a result of rocky 2018 markets that have taken their toll on the bottom line. In particular, on the buy side, firms are reeling from investors’ preference for...
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