BlackRock misses profit estimates, pulls back hiring after market turbulence

BlackRock Inc said on Friday it is tightening its belt and putting off some hirings amid an economic environment that has spooked retail investors and drove its quarterly profit down.

BlackRock said that general and administrative expenses rose 12% year-over-year partly due to costs associated with return to office such as higher tech costs and health and safety costs. BlackRock’s assets under management fell 11% to $8.49 trillion compared with last year, well below the $10 trillion milestone from the fourth quarter of 2021, and also hit by a stronger dollar.

They are more than well poised now in Canada to pick the bones of the 10s of 1000s of homeowners who are gonna lose it all in the next few years

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