On Tuesday, global asset manager giant Blackrock announced it’s set to lay off 600 members of its international staff.
The planned cuts represent approximately 3% of Blackrock’s total global workforce.
“We see our industry changing faster than at any time since the founding of BlackRock,” CEO Larry Fink and President Rob Kapito said in an internal company memo. “As we prepare for 2024 and this very exciting but distinctly different landscape, businesses across the firm have developed plans to reallocate resources.”
Despite the job cuts at the start of the year, Fink and Kapito both signaled that they expected Blackrock to end 2024 with more employees on its roster than it started the year with.
