BlackRock, Inc. (NYSE:BLK) to Cut About 300 Jobs in Fink’s Reorganization

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March 22, 2013 11:31am ETF BASIC NEWS

blackrockBlackRock, Inc. (NYSE:BLK), the world’s biggest money manager, is cutting about 300 jobs, extending a reorganization that included the shakeup of its investment units

last year.

BlackRock will reduce its workforce by less than 3 percent, with some workers leaving immediately and others over coming months, President Robert S. Kapito said today in a memo to employees. Kapito said in the memo that BlackRock will continue to hire and will probably have more employees at the end of 2013 than at the end of 2012.

“We are reshaping the organization by shifting certain responsibilities and moving some roles to different locations or areas of the business,” Kapito said. “The mix of employees will change as our business is constantly evolving.”

You can read the full “Bloomberg” article: HERE

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