BlackRock Cuts Hundreds of Jobs, Trimming About 1% of Staff

BlackRock Inc. is cutting hundreds of jobs across the company, becoming the latest Wall Street firm to rein in headcount in recent weeks.

The cuts total about 1% of BlackRock’s global headcount, according to people familiar with the matter, who asked not to be identified discussing private information. The reductions amount to about 250 employees firmwide and include members of its investment and sales teams, the people said.

“Improving BlackRock is a constant priority,” a company spokesperson said. “Each year, we make decisions to ensure that our resources are aligned with our objectives and that we are well positioned to ...