BlackRock has sent a memo to employees notifying them of impending layoffs. As the market has gone more south than Antarctica and investors have also called in for redemptions to get their money back and likely plow into US Treasuries which has been strengthening the dollar and messing up exports meanwhile keeping America happy by continued borrowing at low rates, BlackRock has less of a need of staff and more of a need to conserve money.
While the 5,500 employees there await in fear to see if they become a rolling pebble they probably are not out trailblazing in a fury out shopping their hearts out and anticipating an induction into the shopper's hall of shame. At least they won't have to wait too long and will get their pink coloured memo within a week.
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