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Investors pulls billions from BlackRock, BlackRock cuts 3% of global work force. (600 employees) Below excerpt reported by Brush. S. (2024, January 9). BlackRock cuts 3% of global workforce, citing dramatic industry shifts. BNN Bloomberg 'BlackRock Inc. will dismiss about 600 employees, or roughly 3 per cent of its global workforce, as it seeks to reallocate resources amid rapid changes in asset management. '“We see our industry changing faster than at any time since the founding of BlackRock,” Chief Executive Officer Larry Fink and President Rob Kapito wrote Tuesday in a memo to staff.' 'The executives said that ETFs have become the preferred vehicle for both index- and active-investment strategies, and that the firm is growing across the globe — including in Europe and Asia.' To read full article, click here According to Reuter (2024), Texas schools fund pulls $8.5 billion from BlackRock over ESG investing. Reported by Binnie. I. 'A Texas school fund told BlackRock (BLK.N), opens new tab on Tuesday it was terminating its contract to manage around $8.5 billion of state money, accusing the investment giant of boycotting fossil fuel energy producers, who represent a large part of the state's industry.' 'BlackRock has denied it is engaged in any boycott, saying the money pulled is a tiny sliver of the $10 trillion in assets that it manages.' To read full article, click here Image by freepik Legal Disclaimer: INFYNIT is providing the content here for educational purposes only. All opinions are of the original author and not an opinion of INFYNIT or any of its affiliates. #GlobalNews #BlackRock #Investors #Pulls #Billions #Global #Workforce #Employees
