The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Wednesday, January 04, 2012|
iShares Layoffs Cross the Atlantic
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."
Printed from: MFWire.com/story.asp?s=38727
Copyright 2012, InvestmentWires, Inc.
All Rights Reserved