BlackRock to Cut 3% of Global Workforce, Bloomberg Says

--BlackRock will cut 600 employees, or about 3% of its global workforce, Bloomberg reported, citing a memo from Chief Executive Larry Fink.

--The asset-management giant expects to have a larger staff by the end of the year, even with the cuts, as it expands certain parts of its business, the report said.

--"We see our industry changing faster than at any time since the founding of BlackRock," said Fink in the memo, according to Bloomberg.

Full article at https://www.bloomberg.com/news/articles/2024-01-09/blackrock-cuts-3-of-workforce-citing-dramatic-industry-shifts?srnd=premium

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

01-09-24 1439ET