New York City, New York-based BlackRock, a multinational investment and asset management company, has announced another 1% reduction in force, following three previous layoffs over 18 months.
The reduction will impact approximately 200 employees across investment, operations, technology, and private financing roles.
It is believed that the decision was driven by the post-integration of the acquisition of New York City-based HPS Investment Partners.
According to a company spokesperson, “The actions we are taking today are the ordinary discipline of a continuously evolving organization. The company is always reviewing staffing across its businesses to best serve its clients.
Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?