BlackRock is reportedly set to break the news to 600 employees in the coming days, amid hopes for the approval of its spot Bitcoin ETF application.
The world’s largest asset manager, BlackRock, is reportedly planning to reduce its global workforce by around 3% this week.
This comes amid BlackRock’s expectations of receiving favorable news from the United States Securities and Exchange Commission (SEC) regarding its spot Bitcoin (BTC) exchange-traded fund (ETF).
According to a report from Fox Business on Jan. 6, citing people familiar with the matter, around 600 employees will be laid off as part of routine internal adjustments, and will be determined by employee performance over the past twelve months.
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Source: https://cointelegraph.com/news/blackrock-workforce-cuts-bitcoin-etf-deadline