01.09.24

BlackRock Cuts 3% of Global Staff, Citing Industry Changes

by: Nicole Goodkind

BlackRock will lay off about 600 employees, 3% of its total global staff, as it seeks to reshuffle resources in response to technological changes in the financial industry. “We see our industry changing faster than at any time since the founding of BlackRock,” wrote CEO Larry Fink and President Rob Kapito in an internal memo. “As we prepare for 2024 and this very exciting but distinctly different landscape, businesses across the firm have developed plans to reallocate resources.”

Read the full article on CNN