BlackRock, the controversial money management firm, has announced it will lay off 600 employees in the coming days, or about 3 percent of its total workforce.
BlackRock is heavily involved in the 'environmental, social, and governance' (ESG) movement that has been sweeping corporations in recent years, too, one that made corporations adopt 'woke' and left-wing policies.
BlackRock layoffs coming as firm matures, ESG pullback and Bitcoin ETF approval https://t.co/cKkbOLnhkW
— FOX Business (@FoxBusiness) January 8, 2024
BlackRock, the world's largest money management firm, plans to announce layoffs in the coming days of about 3 percent of its global workforce, Fox Business has learned.
The job cuts of around 600 employees, which have yet to be reported, are being described internally as routine, according to a source familiar. Last year, BlackRock did a similar round of layoffs gauged on employee performance metrics, the source added.
Shares of BlackRock rebounded in 2023, up 6 percent after falling 21 percent in 2022. New customer money into BlackRock's solid Exchange Traded Fund business exploded last year with $187 billion of inflows into the products that follow a basket of securities and trade like stocks on major exchanges.
Oof.
SCOOP: More bad news for @BlackRock; @FoxBusiness has learned that the world's largest money manager is planning a significant round of layoffs as early as next week. Said to be less than 1,000 of the firm's 19,000 employees. Move comes as its once high-flying ESG biz has faced…
— Charles Gasparino (@CGasparino) January 6, 2024
The global ESG market has been shrinking significantly in recent months, and $5 trillion in the last two years.
BREAKING: Blackrock will be laying off 600 employees, mostly from the ESG division.
— End Wokeness (@EndWokeness) January 8, 2024
ESG global investments collapsed by $5 trillion in just 2 years.
ESG is the system used by Blackrock and Vanguard to blackmail companies into adopting woke practices.
Here is BlackRock CEO… pic.twitter.com/SHLOVQhvTs
While there is no confirmation the ESG division is the target of the layoffs, it would not surprise us.
ESG was always a neoliberal-capitalist psyop to sell crappy performing stocks for "equity and diversity" reasons
— Actual Genius Intellectual (@ActualGeniusInt) January 6, 2024
Worse than that: when the Left discovered they could use corporations to bypass the pesky Constitution when it comes to things like violating the First Amendment, etc., they went all in. DEI and ESG are part of that initiative.
The faster ESG goes away, the better off corporations will be.
— PA Folkways (@PFolkways) January 7, 2024
The better off we'll all be.
👀 👀 Oh boy, everyone’s finding out how corrupt their businesses are. https://t.co/Z52a1qY05n pic.twitter.com/VV1UewHIeH
— BuyTheCryptoDip (@BuyTheCryptoDip) January 6, 2024
This will be interesting, for sure.
ESG disaster hits @BlackRock.👇
— Steve Milloy (@JunkScience) January 6, 2024
You don't often see Wall Street layoffs when the market is booming. https://t.co/vVI5jteMzW
The market is the only thing booming under Biden.
But perhaps this is because people are fed up with the ESG nonsense.
You know the economy is bad when Satan has to start laying off employees.
— Caballero 🏹 (@HughAkston0) January 8, 2024
Okay, we chuckled at this.
ESG, DEI, and CRT programs are collapsing all over the world, now let’s finish them off
— Republic Review (@RepubReview) January 8, 2024
Don’t let up the pressure!
They all need to go away, into the trash heap of history.
The investments collapsed bc their valuations were fraudulent to begin with. ESG is just one giant pyramid scam that collapses the second people stop buying in. Anyone investing based on subjective *concepts* like a businesses “social impact” deserves to lose their money.
— Mel (@Villgecrazylady) January 8, 2024
Seems an accurate assessment.
"go woke, go broke. it's not just a good idea. it's the law."
— el gato malo (@boriquagato) January 8, 2024
nature is healing. https://t.co/RG1cgjE5Ns
Nature is healing, indeed.
#GoWokeGoBroke https://t.co/H4ciVSeNXv
— Ted Cruz (@tedcruz) January 8, 2024
Couldn't have said it better ourselves, Senator.
Being evil and good at math doesn't make you a god. It just makes you evil and good at math. https://t.co/b9IBFCRSte
— The Secret Sun Speaks (@SecretSunBlog) January 8, 2024
Exactly.
Corporate Communists believe they have to force behaviors.
— Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) January 8, 2024
They need to remember as a corporation or business their ONLY job is to SERVE THEIR CUSTOMER with the best job possible to make their customers happy!
It’s not about gender, sex, race and blah blah blah. https://t.co/9NyUeNs0q8
Companies have a fiduciary responsibility to their shareholders, and that's about profits. Investing in woke things that lose money is a violation of that responsibility, and companies should be held accountable.
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