Butterfield Fulcrum Group axes jobs in Bermuda, Cayman Islands

(The Royal Gazette): Butterfield Fulcrum Group has axed some 30 staff from its Bermuda office due to the impact of the global economic crisis. The fund administration company, which was formed when Fulcrum Group and Butterfield Fund Services merged in August last year, also made around 25 other redundancies from its Cayman Islands operation. It is the second biggest lay-offs announcement in Bermuda in the past year, following XL Capital Ltd.’s decision last August to reduce its workforce on the Island by 47. Go to article