F&C to cut up to 100 jobs

Mainly coming from back-office functions across all locations, the reduction in headcount will help F&C reduce its annualised operating costs by approximately £15m. F&C corporate affairs head Jason Hollands eased concerns of fund manager departures, saying the firm "will not see retail managers go from funds or investment trusts". The roles affected are already part of the way through a 30 day consultation period, F&C says. "In order to address the downward pressure on revenues and margins, we are undertaking a targeted cost reduction programme which both reflects this and the economi...