BlackRock's Fink says firm won't make any layoffs this year
BlackRock’s chief executive has made a pledge that the world’s largest asset manager will not lay off any of its more than 16,000 employees as a result of the Covid-19 pandemic — making it the latest financial institution to reassure staff that jobs are safe during the crisis.
“We are committed to making sure our people have the support they need during this time,” Fink wrote, adding: “All our employees have the flexibility to take off as much time as they need to care for themselves, their family or a loved one. We’ve also told our people that we aren’t going to make any layoffs this year as a result of Covid-19.”
The asset manager employs around 16,200 staff across more than 30 countries, according to its most recent annual report. UBS CEO Sergio Ermotti recently told employees that their jobs are safe during the Covid-19 crisis, while Bank of America, Citigroup and Morgan Stanley have said they will not cut jobs during this time.
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