{"id":25457,"date":"2024-01-08T01:47:29","date_gmt":"2024-01-08T01:47:29","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/blackrock-plans-3-workforce-cut-as-bitcoin-etf-deadline-approaches\/"},"modified":"2024-01-08T01:47:29","modified_gmt":"2024-01-08T01:47:29","slug":"blackrock-plans-3-workforce-cut-as-bitcoin-etf-deadline-approaches","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/blackrock-plans-3-workforce-cut-as-bitcoin-etf-deadline-approaches\/","title":{"rendered":"BlackRock Plans 3% Workforce Cut as Bitcoin ETF Deadline Approaches"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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BlackRock, the world\u2019s leading asset management firm, is gearing up for an organizational restructuring. The company plans to cut around 3% of its global workforce, which translates to approximately 600 employees. This move, reportedly imminent, aligns with BlackRock\u2019s strategic adjustments and recent performance metrics.<\/p>\n

The decision coincides with BlackRock\u2019s expectations of obtaining approval from the U.S. Securities and Exchange Commission (SEC) for its new spot Bitcoin ETF. The layoffs, while deemed a standard practice within the company, follow a phase of considerable expansion in terms of assets under management (AUM). BlackRock has experienced a noteworthy rebound in its shares, with a 6% increase in 2023 after a 21% dip the previous year.<\/p>\n

Despite the cuts, BlackRock\u2019s financial footing remains strong. The company\u2019s AUM, as of Q3 2023, was a massive $9 trillion, although this is slightly lower than its 2022 peak of over $10 trillion. The forthcoming layoffs reflect a strategic shift as BlackRock enters a more stable phase of business after years of AUM growth. Analysts are predicting a slight dip in the firm\u2019s Q4 earnings, expecting a 2.46% year-over-year decrease to $8.71 per share.<\/p>\n

The possible SEC approval of BlackRock\u2019s spot Bitcoin ETF application is another key factor. The approval, expected<\/a> around January 10, would position BlackRock as a major player in offering cryptocurrency investment products. Interestingly, this date aligns with the SEC\u2019s decision deadline for the ARK 21 Shares spot Bitcoin ETF.<\/p>\n

BlackRock\u2019s own Bitcoin ETF decision deadline is slated for January 15, following recent amendments filed by various spot Bitcoin ETF applicants. The firm has remained tight-lipped about the layoffs, with a spokesperson declining to comment ahead of the Q4 earnings announcement scheduled for Friday.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) BlackRock, the world\u2019s leading asset management firm, is gearing up for an organizational restructuring. The company plans to cut around 3% of its global workforce, which translates to approximately 600 employees. This move, reportedly imminent, aligns with BlackRock\u2019s strategic adjustments and recent performance metrics. The decision […]<\/p>\n","protected":false},"author":5,"featured_media":25458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25457"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25457"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25458"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}