(RTTNews) - BlackRock Inc. (BLK) will cut hundreds of jobs across its global operations, according to Bloomberg News. The move makes the firm the latest major Wall Street player to reduce headcount amid ongoing cost pressures.
The reductions represent about 1% of BlackRock's workforce, or roughly 250 employees, and span multiple divisions including investment and sales teams.
Chief Executive Larry Fink is reshaping the world's largest asset manager while expanding its push into alternative investments. The company has been integrating new leadership following its $12 billion acquisition of private credit firm HPS Investment Partners in July and is preparing to launch new products targeting wealthy retail investors.
BlackRock previously carried out two rounds of job cuts in 2025, each trimming about 1% of staff, Bloomberg reported.
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