BlackRock Trims Global Workforce by 3%
TL;DR Summary
BlackRock, the world's largest asset manager, plans to cut about 3% of its workforce, roughly 600 positions, as it aims to increase its growth trajectory through acquisitions. The company's CEO, Larry Fink, indicated that clients' cautious approach to investing has impacted the industry and BlackRock's third-quarter flows. Despite this, the firm is looking to expand and is expected to announce its fourth-quarter results soon.
- BlackRock announces cuts of roughly 600 jobs Reuters
- BlackRock Cuts 3% of Workforce, Citing Industry Changes Bloomberg Television
- BlackRock cuts 3% of global staff, citing industry changes CNN
- BlackRock (BLK) Cuts 600 Employees as It Reallocates Resources Bloomberg
- BlackRock to Lay Off 3% of Global Workforce The Wall Street Journal
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