BlackRock Cuts 3% of Global Workforce, Citing Dramatic Industry Shifts
- The firm said 600 of its employees would lose their jobs
- Memo to staff cites unprecedented changes in asset management
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BlackRock Inc. will dismiss about 600 employees, or roughly 3% of its global workforce, as it seeks to reallocate resources amid rapid changes in asset management.
“We see our industry changing faster than at any time since the founding of BlackRock,” Chief Executive Officer Larry Fink and President Rob Kapito wrote Tuesday in a memo to staff.