The Wall Street Journal
BlackRock to Lay Off 3% of Global Workforce
BlackRock, the global investment management corporation, has announced plans to lay off approximately 3% of its workforce. In a memo to employees on Tuesday, Chief Executive Larry Fink and President Rob Kapito revealed that the company expects to expand its workforce by the end of 2024, particularly in growth areas such as the exchange-traded fund business, private markets, outsourced CIO services, and the company’s Aladdin software. BlackRock, known for managing more assets than any other firm worldwide, aims to meet the increasing demands of its clients.