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BlackRock plans to lay off 600 employees — about 3 percent of global workforce
[NYPOST] BlackRock, the world’s largest money management firm, plans to announce layoffs in the coming days of about 3 percent of its global workforce, Fox Business has learned.The job cuts of around 600 employees, which have yet to be reported, are being described internally as routine, according to a source familiar. Last year, BlackRock did a similar round of layoffs gauged on employee performance metrics, the source added. Shares of BlackRock rebounded in 2023, up 6 percent after falling 21 percent in 2022. New customer money into BlackRock’s solid Exchange Traded Fund business went kaboom!last year with $187 billion of inflows into the products that follow a basket of securities and trade like stocks on major exchanges. On Wednesday, BlackRock is expecting approval from the Securities and Exchange Commission for its new Bitcoin "spot" ETF — the first time a crypto investment product tracking the daily price of the world’s most popular digital coin will be approved by securities regulators to trade on a public stock market. Other asset managers are also expecting approval for their ETFs. Related: BlackRock: 2023-12-01 7 people arrested during pro-Hamas rally near Rockefeller Center Christmas tree lighting where one carried swastika BlackRock: 2023-11-29 Anti-Israel protesters plan to 'flood' Christmas tree lighting BlackRock: 2023-11-16 American multimillionaire couple fund Marxist group coordinating anti-Israel protests Posted by: Fred 2024-01-09 |
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