Asset manager to 'reshape its teams after meaningful headcount growth' of 22% over the past three years in face of 'unprecedented' market environment
BlackRock Inc. on Wednesday added its name to the growing list of financial and other companies cutting jobs with plans to cut its workforce for the first time since 2019.
BlackRock Inc. BLK plans to cut about 500 positions or less than 3% of its workforce in the face of an “unprecedented market environment,” a spokesperson for the asset management giant said in an email to MarketWatch. The move comes as Goldman Sachs Group Inc. GS is expected to cut about 3,200 jobs this week, while Morgan Stanley MS is cutting about 3% of its workers, according to The Wall Street Journal.For its part, J.P. Morgan Chase & Co. JPM continues to hire, CEO Jamie Dimon said in an interview this week.
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