In an attempt to revitalize the UK's largest independent asset management firm, Schroders plans to reduce its workforce by up to 3%, amounting to roughly 200 jobs. The majority of these job cuts will target the technology department, signifying one of the initial major moves by the newly appointed Chief Executive Officer, Richard Oldfield, since assuming his role in November. A company spokesperson emphasized that the primary objective is to reposition the business for growth. This round of layoffs forms part of Oldfield's strategic overhaul, aimed at streamlining the company's operations and bolstering its competitive edge.
