Singapore will only see minimal impact from Franklin Templeton’s job-cutting exercise worldwide following its acquisition of Legg Mason.
Less than five staff out of a total headcount of 140 at Franklin Templeton were affected, according to a «Business Time» report – below the minimum threshold required to notify Singapore’s labor ministry.
Globally, the newly merged asset manager is looking to shave 8 percent of its 12,600 workers with most of the cuts being made in the U.S.
Following the acquisition, Franklin Templeton now boasts $1.4 trillion in assets under management globally with $164 billion in Asia Pacific.
