Putnam employees to work more hours

Employees at Putnam Investments will work longer hours starting May 4 when a companywide change in the workweek is implemented.

Full-time employees will start working 37.5 hours a week, a company spokeswoman confirmed today. Employees had been working a 35-hour week.

The change aligns the firm with the standard in place for most financial services firms, the spokeswoman said.

The Boston-based firm has 2,200 employees, though it laid off about 260 workers last month.

Putnam had $96 billion in assets under management as of Feb. 28.