BlackRock's chief executive and president Larry Fink said to employees in a memo: 'The uncertainty around us makes it more important than ever that we stay ahead of changes in the market and focus on delivering for our clients.'
BlackRock's chief executive and president Larry Fink said to employees in a memo:"The uncertainty around us makes it more important than ever that we stay ahead of changes in the market and focus on delivering for our clients."Why you can trust Sky NewsThe move, announced in a memo seen by Insider and Bloomberg, comes as Wall Street continues to downsize in the face of high interest rates that have raised the risk of a recession.
BlackRock had 19,900 employees as of 30 September, according to a filing with the U.S. Securities and Exchange Commission.It is not known if any jobs will be lost in the UK. The company gave no detail in the memo on which sections of the business would bear the brunt of the job losses. In the memo, BlackRock's chief executive and president Larry Fink said:"The uncertainty around us makes it more important than ever that we stay ahead of changes in the market and focus on delivering for our clients."
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