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Tuesday, March 19, 2013

Fink Reorgs

News summary by MFWire's editors

BlackRock [profile] employees are about to see a major reorganization, and around 300 of them are about to see pink slips.

Larry Fink's reorganization will see about 300 employees let go, according to a Bloomberg report. Some will be let go immediately, while some will leave in the next several months.

President Robert Kapito said in a memo to employees that the firm will continue to hire, and will actually likely end up with more employees at the end of 2013 than it had at the end of 2012.

In addition to Bloomberg, the news was also covered in Dow Jones Newswire,Financial Times, MoneyMarketing, and Portfolio Advising.  

Edited by: Ben Geier


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