BlackRock to lay off 300 employees in second jobs cut of 2025

BlackRock to lay off 300 employees in second jobs cut of 2025
The world's largest asset manager is scaling back its workforce again as its push into private markets continues.
JUN 06, 2025
By  Bloomberg

BlackRock Inc. is planning its second round of job cuts this year after the world’s largest asset manager splurged on $28 billion of deals to wade deeper into private markets.

The firm is set to cut about 300 people months after a similar move at the start of the year, according to people with knowledge of the matter. The reductions this month will amount to a little over 1% of its workforce, with the investment firm counting about 22,600 employees at the end of March.

A BlackRock spokesperson declined to comment.

BlackRock, which manages about $11.6 trillion in client assets, has grown its workforce by 14% since the end of 2023, with many new employees coming from the $12.5 billion acquisition of Global Infrastructure Partners and data firm Preqin Ltd

The company is also in the process of closing a deal for private credit manager HPS Investment Partners for $12 billion.

BlackRock’s move follows rounds of cuts across Wall Street in recent months, with Morgan Stanley cutting 2,000 jobs to keep a lid on costs. Goldman Sachs Group Inc. brought forward its annual round of job cuts and targeted 3% to 5% of staff, while Bank of America Corp. trimmed investment banking roles.

Latest News

Advisor moves: LPL welcomes $750M Osaic team, Raymond James recruits Wells Fargo duo in New York
Advisor moves: LPL welcomes $750M Osaic team, Raymond James recruits Wells Fargo duo in New York

Elsewhere in Utah, Raymond James also welcomed another experienced advisor from D.A. Davidson.

UBS loses arbitration battle in fiduciary fight over foundation funds
UBS loses arbitration battle in fiduciary fight over foundation funds

A federal appeals court says UBS can’t force arbitration in a trustee lawsuit over alleged fiduciary breaches involving millions in charitable assets.

RIA moves: NorthRock adds $800M Parkside Advisors, NFP acquires Levine Group in Tennessee
RIA moves: NorthRock adds $800M Parkside Advisors, NFP acquires Levine Group in Tennessee

NorthRock Partners' second deal of 2025 expands its Bay Area presence with a planning practice for tech professionals, entrepreneurs, and business owners.

Three easy ways to boost your firm’s impact this summer
Three easy ways to boost your firm’s impact this summer

Rather than big projects and ambitious revamps, a few small but consequential tweaks could make all the difference while still leaving time for well-deserved days off.

Hightower taps Osaic alum Scott Hadley as first chief advisory officer, expands C-suite
Hightower taps Osaic alum Scott Hadley as first chief advisory officer, expands C-suite

Hadley, whose time at Goldman included working with newly appointed CEO Larry Restieri, will lead the firm's efforts at advisor engagement, growth initiatives, and practice management support.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.