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.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market outlook: S&P 500 could fall 22%, Morgan Stanley saysThe S&P 500 could fall another 22% and investors' view of more downside for stocks is too mild, Morgan Stanley says
Read more »
S&P 500 could sink another 22%, Morgan Stanley warnsMorgan Stanley analysts have warned the U.S. stock market could plunge by another 22% this year because investors are underestimating corporate earnings.
Read more »
BlackRock eliminates up to 500 jobs amid market downturnInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Solana soars 22%, and court docs reveal DOJ seized FTX-linked Robinhood shares: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, George Kaloudis, a research analyst for CoinDesk, discusses the findings of a report highlighting crypto's progress last year and how the FTX collapse impacted markets.
Read more »
How Russia's Su-57 Felon jets compare to U.S. F-35, F-22 fightersMilitary analyst Harry Kazianis told Newsweek that if an Su-57 jet were to be shot down in Ukraine 'it would prove the plane is not truly a top-tier fighter.'
Read more »