BlackRock to Eliminate About 300 Jobs in Second Cut This Year

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, ...