Nicholas-Applegate Tech Chief Leaves In Business Overhaul

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SAN DIEGO--Nicholas-Applegate Capital Management slashed the workforce in its information systems area this year as part of a wider overhaul to the company's business and management.

But a company spokesman says there have been no widespread layoffs at Nicholas-Applegate, where 71 people now work in the information technology department. At the beginning of the year, the IT group had 80 employees, and the spokesman says there are three pending new hires in the department and requisitions for