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Asset manager Blackrock(BLK Quote) is cutting jobs for the first time in its 20-year history, Bloomberg reports.
Dismissal notices will be issued this week, the New York- based company said Monday in a memo to its 5,500 employees, a copy of which was obtained by Bloomberg. The number of people and positions affected weren't disclosed. A BlackRock spokeswoman said details wouldn't be made public until after the end of the year.
Last month, BlackRock said third-quarter earnings fell%, the first drop in two years, as investors pulled money from its funds. ...
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