BlackRock plans to cut 500 jobs - reports

Based on internal memo

BlackRock is planning to cut 500 jobs worldwide, the company has said in an internal memo, according to reports.

The memo, which was first seen by Business Insider, came from CEO Larry Fink and president Rob Kapito.  "This week, after meaningful headcount growth in recent years, we are making some changes to the size and shape of our workforce," the memo said on Wednesday (11 January). "As a result of these steps, about 500 (or less than 3%) of our colleagues will be leaving BlackRock as we reallocate resources to our most critical growth opportunities." The firm's headcount had grown 22% in the last three years and 8% in 2022. BlackRock has a workforce of almost 20,000. Last year, the fir...