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.

jamie.smith.hopkins@baltsun.com

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