BlackRock conducts layoffs despite $14 trillion in assets and record profits
By
Hillary Remy
Summary
BlackRock, the world's largest asset manager with $14 trillion in assets, has conducted another round of layoffs. The company described the cuts as part of the "ordinary discipline of a continuously evolving organisation," using corporate language to downplay the significance. This comes shortly after BlackRock completed a $12 billion acquisition and continues to post record financial results, highlighting the tension between corporate success and workforce reductions.
Source
bskyBlackRock conducts layoffs despite $14 trillion in assets and record profitsmiramarflnews.comKey quotes
· 3 pulledordinary discipline of a continuously evolving organisation
The phrase arrived in a statement from a company spokesperson, buried inside a Bloomberg report about one of Wall Street's most closely watched firms.
It was the kind of corporate language that tends to go unread. But in this case, the word 'ordinary' is the one that matters.
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