Close Close

Portfolio > Portfolio Construction

MONY Expects Job Cuts And A Third-Quarter Loss

Your article was successfully shared with the contacts you provided.

NU Online News Service, Oct. 18, 3:00 p.m. – The MONY Group Inc., New York, says it plans to eliminate some operations and reduce employment by about 10% by early 2002 to improve profitability.

The company says it expects to post an operating loss of about $0.12-$0.15 per share for the third quarter as a result of poor retail brokerage results and the poor performance of the venture capital portfolio.