By Anirudh Saligrama (Reuters) - BlackRock has announced layoffs that would impact less than 1% of its workforce as a result of budget reallocations t.
BlackRock has announced layoffs that would impact less than 1% of its workforce as a result of budget reallocations to support critical priorities, according to a memo seen by Reuters on Thursday. The investment management firm has about 19,500 employees across more than 30 countries. BlackRock had cut 500 jobs earlier this year while reshaping its teams, joining several Wall Street titans in slimming their ranks to save costs amid an economic downturn caused by higher interest rates, volatile markets and geopolitical tensions.
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