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BlackRock Plans To Let Go Of 600 Employees Ahead Of Imminent Bitcoin ETF Approval

Posted on AllSides January 8th, 2024
From The Center

Mega asset management firm BlackRock, which is hoping to be one of the issuers of the much-awaited spot Bitcoin exchange-traded funds (ETF) in the U.S., is planning to lay off 600 people, equivalent to about 3% of its global workforce, in the coming weeks.

BlackRock did a similar round of layoffs in 2022 based on the performance metrics of employees. The latest round of "routine" job cuts will see 600 people lose their jobs, Fox Business reported, citing people familiar with the matter.

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