AM I NEXT? NO LOVE AT BLACKROCK (01/09/25)

JANUARY 9, 2025 — 1% OF GLOBAL WORKFORCE

BlackRock announced the layoff of about 200 employees, or 1 percent of its global workforce.

BlackRock President Rob Kapito and Chief Operating Officer Rob Goldstein noted, “As part of these firmwide efforts, we will be making changes today that will see approximately 1% of our colleagues leave the firm. This is never easy.”

JANUARY 7, 2024 — 3% OF GLOBAL WORKFORCE

BlackRock plans to announce layoffs of about 3 percent of its global workforce, or about 600 employees in the coming days.

JUNE 24, 2023 — 1% of GLOBAL WORKFORCE

BlackRock announced additional layoffs that would impact less than 1% of its workforce due to budget reallocations to support critical priorities.

Approximately 150 to 190 employees will be impacted.

According to Chief Operating Officer Rob Goldstein and Global Head of Human Resources Caroline Heller, “the decision followed a recent business review. Even with these changes, our headcount will be higher at the end of the year compared to the start of the year as we continue to invest in our talent and our business.”

JANUARY 25, 2023 — Original post

New York City, New York-based BlackRock, the world's largest asset manager, has announced that it will be initiating a major cost-cutting initiative affecting 2.5% of its global workforce.

The reduction in force will impact 500 employees.

According to a statement by CEO Larry Fink and President Rob Kapito, “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. Our breadth and resilience enable us to play offense when others are pulling back.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT TELEDOC

Purchase, New York-based Teladoc Health, operators of a platform to provide telehealth appointments and visits for primary care, non-emergency care, therapy, and nutrition practitioners, has announced a restructuring plan intended to reduce operating costs.

The restructuring effort impacts approximately 300 employees.

According to Teladoc CEO Jason Gorevic, "At this stage in both our evolution as an enterprise and given the challenged economic environment, we believe that balanced growth is the right step for us as a well-run company. And so, after taking several non-people cost-saving actions, including ongoing real estate and systems consolidations, we concluded that today's moves were necessary."

"As some team members leave, we will also be making changes to our organizational structure to streamline our work and best capture the opportunities ahead including a further review of our real estate footprint and return on vendor investments."

"These actions put us on an even stronger financial footing at a time when many of our competitors are questioning their ability to keep their doors open."

"What I can promise you is that today's actions were based on our best assessment of our current business needs, with the sole intent of putting us on a better path to top and bottom-line growth.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT VERILY LIFE SCIENCES

San Francisco, California-based Verily Life Sciences, the life sciences research subsidiary of Alphabet, has announced a restructuring to eliminate some programs and streamline operations that will result in a reduction of 15% of its workforce.

Approximately 200+ employees will be impacted.

Verily’s chief executive officer Stephen Gillett noted, “We are making changes that refine our strategy, prioritize our product portfolio and simplify our operating model. We will advance fewer initiatives with greater resources.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?