Putnam to close Franklin, Mass. facility
Putnam Investments is planning to close its Franklin, Mass., operations facility and fold it into its Boston headquarters and Andover, Mass., site by the end of the year, a company spokesman said today.
Putnam Investments is planning to close its Franklin, Mass., operations facility and fold it into its Boston headquarters and Andover, Mass., site by the end of the year, a company spokesman said today.
No layoffs are expected to result from the closure of the facility, which employs about 500 people.
“Virtually all employees will be offered positions in the Boston and Andover offices,” said Putnam spokesman Jonathan Goldstein.
“Putnam will continue to have employee presence in the Franklin area through its work-at-home program.”
The Boston-based firm is committed to maintaining its presence in the state, he said.
“We were looking at how to optimize facilities to best serve clients and be well positioned for future growth,” Mr. Goldstein said.
Staff at the Franklin facility performed non-investment functions and largely back-office operations.
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