BlackRock, the world's largest asset manager, is laying off approximately 250 employees, representing about 1% of its global workforce. The cuts primarily affect investment and sales teams. A company spokesperson stated these decisions are made to align resources with objectives and serve clients effectively. This move follows similar workforce reductions by other major financial and tech companies, including Citigroup, UBS, and Meta, amid broader industry trends of restructuring and investment shifts, particularly towards alternative investments.