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Administration May 4, 2002
Online Trainers Eliminate Staff
April 17, 2001 (PLANSPONSOR.com) - Training staff
are being replaced by technology at mutual fund giant Janus
Capital, which eliminated 45 training positions and moved its
training operations online.
Reported by Camilla Klein
The move, unrelated to fund performance according to a Janus spokesperson, follows the company’s February announcement of its plans to cut 468 job cuts due to the slowing demand for its products and the increased automation of its services.
After stellar performance throughout the bull market of the 1990s, Janus’s returns dropped markedly last year and have remained in the doldrums ever since. Client redemptions and underperformance have driven Janus’s $300 billion in assets under management, recorded last year, down by a third.