BlackRock cuts 3% of global staff, citing industry changes ...Middle East

By Nicole Goodkind, CNN New York (CNN) — BlackRock, the world’s largest asset manager, will lay off about 600 employees as it seeks to reshuffle its resources in response to technological changes in the financial industry. “We see our industry changing faster than at any time since the founding of BlackRock,” wrote CEO Larry Fink and President Rob Kapito in an internal memo reviewed by CNN. “As we prepare for 2024 and this very exciting but distinctly different landscape, businesses across the firm have developed plans to reallocate resources.” The New York-based firm says that even with these job cuts, it expects to end the year with more employees. “We expect to have a larger workfo

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