Another company is cutting Boston finance jobs.

Putnam Investments recently fired 12 money managers, according to an article by Bloomberg. The layoffs came after the company’s assets fell 39 percent in the past year. Putnam follows in the footsteps of Fidelity Investments and Janus Capital Group Inc., who have taken steps to save money among the worse stock-market losses since the 1930s.

Putnam, based in Boston, is the asset-management unit of Canadian insurer Great-West Lifeco Inc., which is planning on cutting an additional 35 jobs. This will include 17 job cuts in the company’s quantitative analysis team, as well as a merger of six funds into larger ones. Putnam’s quantitative analysis team will be reduced to nine employees from 26, while the U.S. and international research teams will be merged. The layoffs account for about 2 percent of the company’s 2,500 employees.

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While most areas in the country are constantly losing jobs, the Boston job market has been an exception to the rule.

During September 2008, the Boston-Cambridge-Quincy area saw a total non-farm employment of 2,513,500, up from 2,491,800 during August, and an increase of .8 percent from last yea. According to the United States Department of Labor Bureau of Labor Statistics, the area has seen an over-the-year increase in jobs every month so far this year. Jobs increased by .9 percent in April, .8 percent in May, .8 percent in June, .7 percent in July, .7 percent in August and .8 percent in September.

Even though jobs are up, the unemployment rate also increased, from 4.7 percent in August to 5 percent in September. Also, several industries saw an over-the-year decrease in jobs during September, including construction by 3 percent; manufacturing by 1.1 percent; trade, transportation and utilities by .2 percent; information by .4 percent; financial activities by 1 percent and other services by .8 percent.

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A well-known newspaper is cutting more Boston communications jobs.

The Boston Globe recently announced its plan to eliminate 42 Boston jobs, mostly managers in advertising, circulation and marketing. The paper also has reorganized the management of its business operations to better integrate the Globe and its Web site, Boston.com.

As part of the reorganization, according to an article by the Globe, Boston.com business managers will now report to Globe Publisher Steve Ainsley instead of the digital unit of The New York Times Co., the Globe’s owner. Globe Editor Martin Baron already oversees both the Globe and Boston.com’s editorial operations.

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