Legg Mason Planning Job Cuts in Technology Push at Fund Firm

Legg Mason Inc. plans to cut staff as it invests more in technology to manage assets and serve clients.

“We are not in a position to estimate the size or scale of any future reductions-in-force at this point,” the firm said Feb. 4 in an emailed statement. “The affected functions are operations, technology, fund administration, legal and compliance, human resources, finance, real estate, enterprise risk and other corporate services.”

The Baltimore-based money manager had a loss per share of $2.55 for the fiscal third quarter ended Dec. 31, the company said in a separate statement after U.S. markets closed. Legg ...