BlackRock Announces Staff Cuts Amid Strategic Reorientation
According to BlockBits, on January 9, BlackRock (BLK.N) informed its employees of a plan to reduce its workforce by approximately 1%. The decision comes after the company expanded into the private equity and data sectors, which accounted for more than $25 billion in acquisitions last year.
In a memo to employees, BlackRock President Rob Capito and Chief Operating Officer Rob Goldstein outlined the intent to redirect resources in line with the company’s strategic goals through measures that include layoffs. With a workforce of over 21,000 employees, the cuts will affect approximately 200 individuals.