BlackRock plans to lay off 600 people, or 3% of its staff, to reallocate resources to faster-growing areas within the $9.1T money manager including technology, exchange traded funds and private markets, Financial Times’ Brooke Masters reports. Chief executive Larry Fink and president Rob Kapito told employees in an all-staff memo on Tuesday that the company was adapting to a “rapidly changing environment” but that its total headcount would continue to grow from the current level of about 20,000.
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