Schroders to cut 3% of workforce, Bloomberg News reports
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FILE PHOTO: The logo of investment management company Schroders is seen at a branch in Zurich, Swtzerland November 5, 2018. REUTERS/Arnd Wiegmann/File Photo
(Reuters) -British asset manager Schroders is planning to lay off about 3% of its workforce, Bloomberg News reported on Thursday, citing a person familiar with the matter.
The company is cutting about 200 jobs that are mostly in technology, the report said.
"Our priority is to re-position the business at pace, as we transition to growth," a Schroders spokesperson told Reuters in an emailed statement.
The reported move comes two months after new Schroders CEO Richard Oldfield cut the size of the asset manager's executive committee from 23 to 9, after taking over from long-standing boss Peter Harrison.
(Reporting by Gnaneshwar Rajan and Mrinmay Dey in Bengaluru; Editing by Shailesh Kuber)
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