BlackRock Plans Layoff Amid Budget Reallocation: Report
Portfolio Pulse from Nabaparna Bhattacharya
BlackRock plans to lay off less than 1% of its workforce as part of budget reallocations to support critical priorities. The company has over 19,000 employees in 35+ countries. Despite the job cuts, the asset manager's headcount is expected to be higher at the end of 2023 than at the beginning of the year.
June 23, 2023 | 4:18 pm
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BlackRock's layoffs, impacting less than 1% of its workforce, are part of budget reallocations to support critical priorities. The company's headcount is expected to be higher at the end of 2023.
The layoffs are part of BlackRock's budget reallocations to support critical priorities, and the company's headcount is expected to be higher at the end of 2023. This indicates that the impact on the company's stock price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100