Manulife cuts 250 jobs in wealth and asset management unit

Signage is seen on Manulife Financial Corp.'s office in Toronto on Feb. 11, 2020. (THE CANADIAN PRESS/Cole Burston)

TORONTO — Manulife Financial Corp. has cut 250 jobs in its global wealth and asset management business, the latest asset management company to take action in a challenging environment, a spokesperson for Canada's largest insurer said on Tuesday.

(Reporting by Nivedita Balu in Toronto and Saeed Azhar in New York)