BlackRock to cut about 1% of its workforce to realign resources and strategy

On January 9, BlackRock (BLK.N) informed its employees that the company will cut about 1% of its workforce. The group entered into more than $25 billion in acquisition deals last year to expand its business in non-public market assets and data.

BlackRock President Rob Kapito and Chief Operating Officer Rob Goldstein told employees in a memo Wednesday that they plan to realign resources with strategy through the layoffs and other measures. The company has more than 21,000 employees, meaning about 200 will be affected.