: T. Rowe Price cuts 2% of staff or about 150 people

T. Rowe Price Group Inc. TROW has reduced its global head count by 2%, or about 150 people, a spokesperson for the firm confirmed to MarketWatch. The job cuts took place last week, said the layoffs were a “difficult decision” and that the departing employees had provided “many contributions to our firm.” The Baltimore-based money manager with AUM of $1.4 trillion cut 2% of its work force back in November as well. The layoffs were first reported by Pensions & Investments. T. Rowe Price stock is up 8.9% so far in 2023, compared to a 19.6% gain by the S&P 500 SPX.

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