首页 News 正文

Unable to withstand profit pressure! Global asset management giant BlackRock announces 600 layoffs

楚一帆
259 0 0

At a time of rapid changes in the asset management industry, BlackRock, the world's largest asset management company, is seeking to reallocate resources. On Tuesday (January 9th), the company plans to lay off 600 employees, accounting for 3% of the total number of employees.
BlackRock CEO Larry Fink and President Rob Kapito wrote in a staff memo on Tuesday that the company is adapting to a rapidly changing environment, with layoffs accompanied by some business expansion. Therefore, by the end of this year, it is expected that the total number of employees will continue to grow on top of the current approximately 20000.
"By the end of 2024, as we continue to increase personnel and build capacity to support key growth areas, we expect to have a larger workforce... In serving customers and managing resources, we need to be flexible and efficient. We must leverage technology and redeploy personnel and resources where customer demand is greatest and growth opportunities are most promising."
Currently, within this $9.1 trillion asset management company, the fastest-growing sectors include technology, exchange traded funds (ETFs), and the private market.
According to insiders, this year's layoffs are not concentrated in any specific business department or team. In addition, BlackRock will announce its fourth quarter results this Friday.
The pressure on the asset management industry
The entire asset management industry is facing pressure to maintain profit margins. The fund management companies that have announced layoffs and restructuring in recent months include Jiaxin Wealth Management, Jingshun, and Manulife.
Jeffrey analyst Daniel Fannon wrote in an industry report this week, "The asset management industry still has revenue issues, and its cost structure does not match the current growth prospects."
BlackRock also cut a similar number of positions in the same period last year, mainly due to the market turbulence in 2022 leading to a decrease in the size of assets under its management.
Fink has stated that he is seeking a "transformational deal" to expand BlackRock's coverage, help it develop the Aladdin technology platform, or increase its alternative investment products.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

  •   知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
    caffycat
    昨天 11:18
    支持
    反对
    回复
    收藏
  •   每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
    star8699
    3 天前
    支持
    反对
    回复
    收藏
  •   上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
    goodfriendboy
    3 天前
    支持
    反对
    回复
    收藏
  •   人民网北京11月22日电 (记者栗翘楚、任妍)2024广州车展,在新能源汽车占据“半壁江山”的同时,正加速向智能网联新能源汽车全面过渡,随着“端到端”成为新宠,智能驾驶解决方案成为本届广州车展各大车企竞 ...
    3233340
    昨天 17:06
    支持
    反对
    回复
    收藏
楚一帆 注册会员
  • 粉丝

    0

  • 关注

    0

  • 主题

    38