T. Rowe Price Group, the investment firm headquartered in Baltimore, is cutting 2% of its workforce, a spokesperson confirmed Thursday.
The spokesperson did not did not say whether any Baltimore-area employees are affected. In addition to its headquarters at 100 E. Pratt Street in downtown Baltimore, T. Rowe Price also has a corporate campus in Owings Mills.
The 2% reduction is equivalent to 150 positions, according to a MarketWatch report.
“We deeply value the dedication and the contributions of our departing associates and offered generous transition assistance packages, as well as outplacement support and resources in recognition of these associates’ many contributions to our firm,” a spokesperson said in a statement.
The firm has been in the city since Thomas Rowe Price Jr. started his business on Light Street in 1937 and has been headquartered on Pratt Street since 1975, occupying nearly half of a prominent 28-story building. The company flirted with leaving the city in 2013, but now T. Rowe Price is preparing to move its headquarters to a 550,000-square-foot complex under construction in Harbor Point.
After a 2022 groundbreaking, a T. Rowe Price spokesperson said 2,500 employees eventually will work in two seven-story buildings connected by a glass atrium.