- BlackRock plans to cut 600 jobs (3% of workforce) as part of a restructuring ahead of key decisions impacting future growth
- BlackRock committed $2B to launch a proposed Bitcoin ETF pending SEC approval, part of its focus on digital assets
- Outcomes of SEC decision on proposed Bitcoin ETF and upcoming earnings report on January 12 will impact BlackRock’s strategy and performance
BlackRock Inc., the world’s largest asset manager, plans to cut about 600 jobs, or 3% of its workforce. The layoffs come as the company awaits key decisions that could impact its future growth.
Impending Job Cuts Part of Restructuring
Despite the impending cuts, BlackRock continues to pursue new opportunities, especially in digital assets. The firm awaits a decision from the SEC on a proposed Bitcoin exchange-traded fund (ETF).
BlackRock Remains Focused on Digital Assets
BlackRock has committed $2 billion to launch trading for its proposed Bitcoin ETF, pending SEC approval. CEO Larry Fink has highlighted the potential of Bitcoin, calling it a “Flight to Quality.” The SEC’s decision on the proposed ETF coincides with BlackRock’s upcoming earnings report.
Earnings Report, SEC Decision Loom Large
The outcomes of the SEC decision and earnings report, expected by January 12, will likely impact BlackRock’s strategy and performance. The job cuts are part of a performance-driven restructuring as BlackRock positions itself for the future.
