Putnam Investments will be cutting 12 portfolio managers and 35 staff members in order to “get rid of complexity.” The company will be merging six of its smaller mutual funds into six larger ones. The assets of these funds have taken a beating in the last few months — falling from $172 billion to $116 billion.

Apropos of the announcement, Putnam also has one of the comprehensive career pages we’ve ever seen. Apply if you dare.

[CNN] Putnam Investments cuts 47 jobs