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last mo.

BlackRock Cuts About 1% of Workforce in New Round of Layoffs

Executives say the reduction reflects a routine resource review linked to a pivot toward alternative assets following the HPS acquisition.

Larry Fink, Chairman and Chief Executive Officer of BlackRock, attends the Global Financial Leaders' Investment Summit, in Hong Kong, China, November 4, 2025. REUTERS/Tyrone Siu/File Photo
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Overview

  • About 250 positions, roughly 1% of global staff, are being eliminated across divisions, including investment and sales teams, according to Bloomberg-sourced reports and company statements.
  • A BlackRock spokesperson said the firm makes periodic decisions to align resources with objectives and has not specified when the reductions will take effect.
  • The action aligns with a strategy under CEO Larry Fink to expand in alternatives after the $12 billion purchase of HPS Investment Partners and preparation of new products for wealthier clients.
  • BlackRock executed two similar rounds of cuts last year, each trimming about 1% of headcount.
  • The move tracks broader reductions at major firms such as Meta and Citigroup, and BlackRock is scheduled to report fourth-quarter earnings on January 15.