BlackRock, scheduled to complete its takeover of Barclay’s investment unit today, has said it will eliminate 89 jobs in San Francisco. This represents 1% of the combined workforce of 9000 employees. According to a report filed with the California Employment Development Department the cuts will be made by January 8. No word yet as to which jobs will be cut.
Once the purchase is complete, New York based BlackRock will become the worlds largest asset manager.
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