Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden's administration.
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Legg Mason Inc. is cutting 120 people, or about 12% of staff, and streamlining its executive committee just days after adding investor Nelson Peltz to its board.
The cost-cutting steps are “critical to our ongoing growth,” Joseph Sullivan, chief executive officer of the Baltimore-based asset manager, said in a memo to staff Thursday.