Gartmore announces up to 75 redundancies

In a statement, the firm said it has historically kept a tight rein on its cost base and stressed it is positioned well in the current financial climate. However, it also spoke of the need to be prudent in managing costs in line with revenue expectations. It is believed that the majority of redundancies will be in the UK, though there has been no indication as to which parts of the business will be most affected. The statement read: "Our overall business has fared well in 2008, largely due to the diversity of our investment teams and the breadth of our global client base. Our focus and ...