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Despite first-quarter gains, T. Rowe lays off 5.5% of work force
T. Rowe Price Group Inc. said Wednesday that reeling markets sent its first-quarter profit tumbling by more than two-thirds, and the investment manager announced plans to cut 288 jobs, or 5.5% of its work force.
T. Rowe gets into 401(k) annuities
The mutual fund giant said that it has started offering 401(k) plans an online platform that participants can use to purchase annuities.
