BlackRock Cuts Hundreds of Jobs, Trimming About 1% of Staff

Group 1 - BlackRock Inc. is cutting about 250 jobs, which is approximately 1% of its global headcount, as part of a broader trend among Wall Street firms to reduce staff [1][3] - The job cuts include members from investment and sales teams, indicating a strategic shift within the company [1] - The company aims to align its resources with its objectives and enhance its service to clients, as stated by a company spokesperson [2] Group 2 - CEO Larry Fink is focusing on restructuring BlackRock to deepen its involvement in alternative investments, following the $12 billion acquisition of HPS Investment Partners [2] - BlackRock had around 24,600 employees and managed approximately $13.5 trillion in assets as of the end of September [4]