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BlackRock cuts jobs as industry comes under pressure

BlackRock cuts jobs as industry comes under pressure

BlackRock will cut staff by 500 to free up resources to focus on new priorities such as fee-rich alternative strategies and faster-growing markets, underscoring how the biggest players are revising their strategies in challenging industry conditions. While the world’s biggest investment group, with about $6.4tn under management, remains comfortably profitable — with a margin of…

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