BlackRock Shakes Up Financial Industry With 600 Layoffs
BlackRock, the world's largest asset manager, recently announced a significant shakeup in response to the rapidly changing landscape of the financial industry. The company plans to lay off approximately 600 employees, representing about 3% of its global workforce. This move reflects BlackRock's efforts to reallocate resources and adapt to new technologies and market conditions. In an internal memo, CEO Larry Fink and President Rob Kapito emphasized the need for businesses across the firm to adjust to this distinctly different landscape.
BlackRock acknowledges that the financial industry is undergoing unprecedented change, surpassing anything witnessed since the company's inception. Fink and Kapito highlight the transformative power of new technologies, which are poised to revolutionize ...