BlackRock (NYSE:BLK), the world’s largest asset manager, is set to eliminate around 250 roles, equivalent to roughly 1% of its global headcount, a company spokesperson told Reuters on Tuesday.
The planned reductions form part of BlackRock’s routine annual review process, which focuses on streamlining operations and enhancing organisational efficiency.
“Improving BlackRock is a constant priority,” the spokesperson said in a statement to Reuters. “Each year, we make decisions to ensure that our resources are aligned with our objectives and that we are well positioned to serve clients today and in the future.”
The confirmation followed an earlier report by Bloomberg News, which first disclosed the company’s intention to trim its workforce.