Janus Cuts More Positions, Again Citing Technological Efficiencies
April 23, 2001
Janus of Denver is cutting 54 shareholder-service training positions from its operations division, the company announced last week. Nine of the 54 employees were placed in other parts of the company, meaning that 45 people were laid off, the spokesperson said.
Janus maintains that increased efficiencies from technology are the reason for the cutbacks. The company has abandoned the classroom model of training in favor of computer training so employees can be trained at their own pace at their desks, according to Blair Johnson, a spokesperson for the company.
In February, Janus announced it was eliminating 468 jobs from its operations unit and cited technology as the reason for those cutbacks as well. The company did not disclose expected cost savings from the new round of cutbacks.
"Cost savings were not the driving factor here," Johnson said. "We are continuously focusing on how we can use technology to make the company more efficient."
In the last two months, Putnam Investments of Boston, American Skandia of Shelton, Conn., and Charles Schwab Corporation of San Francisco all announced cutbacks due to the declining market and a need to reduce costs.Janus has no further cutbacks planned, according to Johnson.