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May 22, 2024
PI Global Investments
Alternative Investments

BlackRock plans to cut 3% of global workforce

According to a report by Fox Business, which cites a source familiar to the matter, the job cuts of around 600 employees are being described internally as routine, following a similar round of layoffs based on employee performance metrics last year. 
The broadcaster said one potential reason behind the job cuts could be attributed to BlackRock experiencing a shift from a period of rapid asset under management growth to a more stable and mature phase in its business.
People close to BlackRock told Fox Business that savings from the layoffs will be used to expand into growth businesses …

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