BlackRock is set to reduce its global workforce by approximately 1%, amounting to around 250 positions, reported Reuters citing sources.  

The announcement, which follows an initial report by Bloomberg News, comes as part of the firm’s customary review intended to enhance operational efficiency. 

A spokesperson from BlackRock said: “Improving BlackRock is a constant priority. 

“Each year, we make decisions to ensure that our resources are aligned with our objectives and that we are well positioned to serve clients today and in the future.” 

The company has not specified when the redundancies will take effect or provided detailed reasons for the decision, according to the New York Post.  

Asked for comment, Black said in an emailed statement to Private Banker International that it “do[es] not have a comment.”

BlackRock has recently increased its presence in alternative investment markets.  

Under CEO Larry Fink, the asset manager concluded a $12bn deal to acquire HPS Investment Partners in July, adding private credit and infrastructure investment capabilities to its portfolio.  

The process of integrating new leadership from these acquisitions and preparing a new array of funds for clients is ongoing, New York Post added. 

For 2026, BlackRock has outlined investment themes centred around AI, income generation, and greater diversification.  

Among its existing offerings is a technology-focused exchange-traded fund dedicated to AI companies. 

Financial results from the third quarter of 2025 show BlackRock’s assets under management growing to $13.46tn, up 17% from $11.47tn a year earlier.  

Adjusted net income for the period rose to $1.9bn from $1.7bn reported in the previous year’s corresponding quarter.