BlackRock to cut around 250 jobs in latest layoffs

LONDON, Jan 13 (Reuters) - BlackRock BLK.N, the world's largest asset manager, will cut hundreds of jobs as part of a regular round of layoffs to improve efficiency, a spokesperson for the company told Reuters.

Around 1% of its global workforce, or about 250 employees, will lose their jobs, the spokesperson said, confirming an earlier report by Bloomberg News.

Under the leadership of CEO and co-founder Larry Fink, BlackRock has sharpened its focus on private markets through major acquisitions, including of private credit provider HPS and infrastructure investor Global Infrastructure Partners.

“Improving BlackRock is a constant priority,” the spokesperson said in a statement. “Each year, we make decisions to ensure that our resources are aligned with our objectives and that we are well positioned to serve clients today and in the future.”