Waddell & Reed Financial Inc. has filed notice of its intent to lay off 158 employees.
On Tuesday, the Overland Park-based financial services company disclosed the planned cut in a WARN (Worker Adjustment and Retraining Notification) Act filing.
Waddell & Reed signaled that cuts were coming on June 19, when it announced it would outsource processing of transactions to SS&C Asset Manager Solutions. SS&C's parent company acquired Kansas City-based DST Systems Inc., which had a long-term relationship with Waddell & Reed, in 2018.
Read the rest of the story in the Kansas City Business Journal.