BlackRock Cuts 600 Jobs and Reallocates Resources
BlackRock, the world’s largest asset manager, is cutting approximately three per cent of its workforce, or 600 jobs.
What’s happening at BlackRock?
According to news outlets, including Bloomberg, BlackRock is focused on reallocating resources amid rapid changes in asset management.
“We see our industry changing faster than at any time since the founding of BlackRock,” CEO Larry Fink and President Rob Kapito said in a recent memo to staff.
The executives added that new technologies are poised to “transform our industry — and every other industry.”
The job cuts come as the firm continues to expand around the world, including in Europe and Asia.
Impact in Canada
It remains unclear if Canadian employees are affected by the latest reduction at BlackRock.
According to the company’s LinkedIn page, it has more than 270 workers in the country.
If you’re a non-unionized employee, check out our BlackRock Layoffs guide.
You can also use our free Pocket Employment Lawyer tool for real-time insights.
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📞 Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.
Our experienced employment lawyers in Ontario, Alberta, and British Columbia (BC) have helped tens of thousands of non-unionized individuals resolve their workplace issues, including wrongful dismissals.
If you’ve lost your job at BlackRock for any reason, don’t panic. We can review your situation, assess your legal options, and help you secure the compensation you’re legally entitled to.
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About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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