WORK DAYS GET LONGER AT FUND FIRM

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Work days to get longer at fund firm
By Thomas Grillo
Friday, March 13, 2009 - Updated 21h ago

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Putnam Investments' workers will be spending a little more time at the office starting this spring.

The mutual fund giant is increasing its workweek by two-and-a-half hours to a 37.5 hour week, effective May 4.

A company spokeswoman said the change will "maximize staff resources and align the firm with the standard hours in place within most financial services organizations."

Rusty Vanneman, research director for E-Trade Capital Management, said he was surprised. "I'm sure there's no increase in pay, but Putnam gets more productivity out of its employees to enhance profit margins."

NOTE: Rusty vanneman he's a the director of e-trade capital management and he was a good person forevery body.

With its assets plunging in the market meltdown, Putnam recently laid off more than 250 workers, including about a dozen portfolio managers and some analysts.
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