Fund managers ringfenced from upcoming abrdn job cuts

Roughly 500 job losses

Fund managers have been ringfenced from the upcoming redundancies at abrdn, Investment Week has learned.

The FTSE 250-listed manager is set to announce roughly 500 job cuts tomorrow morning (23 January), with the cost-cutting drive first reported by Sky News. abrdn seeks to reassure shareholders after AGM pushback Investment Week understands that fund managers are not in the scope of the headcount reduction, which is set to trim roughly 10% of the firm's workforce. The redundancies are understood to mostly affect back office roles. Alongside the redundancies, abrdn is due to produce a trading update in the morning, which is predicted to disclose billions of pounds of outflows during H...