TechFlow news, according to foxbusiness, BlackRock plans to cut about 3% of its workforce, affecting approximately 600 employees. BlackRock expects to receive approval from the Securities and Exchange Commission (SEC) on Wednesday for its new Bitcoin "spot" ETF.
Notably, the company's stock rebounded in 2023 with a 6% gain, and last year its exchange-traded fund (ETF) business attracted $187 billion in inflows.
In addition, while the company's ESG investment business is weakening in the United States, ESG remains a significant business among international clients, particularly large sovereign wealth funds in Europe and the Middle East.
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