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Rating:iShares Layoffs Cross the Atlantic Not Rated 4.0 Email Routing List Email & Route  Print Print
Wednesday, January 04, 2012

iShares Layoffs Cross the Atlantic

News summary by MFWire's editors

Three weeks after word leaked that iShares is cutting 59 jobs in San Francisco comes word that the BlackRock unit will cut jobs in London. UK-based Citywire's Wealth Manager published a report that said BlackRock will eliminate 15 staff from its iShares London office.

Citywire reported that a BlackRock spokesperson told it that the cuts are a response to "challenging" economic conditions.

The spokesperson added: "In particular, we are focusing resources on key priorities, while identifying ways to streamline processes, simplify platforms, and reduce expenses. This has included shifting personnel in some instances and in some cases eliminating positions consistent with client needs."  

Edited by: Sean Hanna, Editor in Chief

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