Invesco axes 1,300 jobs following Oppenheimer acquisition

Pedro Gonçalves
clock • 1 min read

Invesco has slashed 1,300 jobs following its acquisition of OppenheimerFunds, the Financial Times reports. The terminations represent 12% of the combined headcount of Invesco and OppenheimerFunds based on staffing levels at the end of 2018. The cuts include 850 staff from a single OppenheimerFunds office in Denver that focused on administrative functions. In an interview with the FT, Invesco CEO Martin Flanagan said that the decision to reduce the number of staff had been "uncomfortable".  "It was uncomfortable for everybody," Flanagan told the FT. "But we feel very strongly that w...

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