Legg Mason expects further reductions via attrition

May 13, 2010|By Jamie Smith Hopkins, The Baltimore Sun

Legg Mason told investors Thursday that the company expects its headcount will fall by more than 350 worldwide — the number of job cuts announced this week — because it won't replace all the employees who leave voluntarily.

Mary Athridge, a Legg Mason spokeswoman, said such a move could also mean a reduction in the Baltimore area beyond the 250 layoffs planned, but the company doesn't have a bottom-line number in mind. The layoffs represent 30 percent of the company's local work force.

"As people leave in Baltimore, we're likely not to replace all those positions," Athridge said.


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