BlackRock cuts about 200 jobs in 4th round of layoffs
Business
BlackRock, the world's biggest asset manager, is letting go of about 200 employees, less than 1% of its global team.
This marks the fourth round of layoffs in a year and a half.
The company says these cuts are part of regularly adjusting its workforce to match new business goals while it continues to expand.
BlackRock acquired HPS for $12 billion
The job cuts affect teams in investment management, tech, and operations.
BlackRock's been busy adapting to a changing market and recently made a huge move by buying HPS Investment Partners for $12 billion, its largest private credit deal yet.
Despite these changes, BlackRock says it's still focused on long-term growth.