A company-wide shake-up within Raymond James Financial Inc. today has resulted in the layoff of dozens of employees at Morgan Keegan & Co. Inc. as well as at Raymond James offices.
According to an official statement from Raymond James public relations manager Steve Hollister, the firm has laid off 68 employees in the Memphis market — 57 of whom are within the recently acquired Morgan Keegan offices and 11 within local Raymond James offices.
“In the course of combining Raymond James and Morgan Keegan, we have identified 218 redundant positions that are being eliminated at the close of the merger, mainly in the equity capital markets and fixed income groups,” he said. “Of the total, 68 jobs are located in Memphis, where approximately 1,000 associates are employed, including 11 positions in Raymond James offices.”