We axed about 500 people in 2012. I was part of that cut. I think it was maybe 5% of the total global workforce, and if I remember correctly, most of the cuts where here in New York City. I liked working at BlackRock and I liked my peeps, managing up was a bit hard, but overall it was a good experience. Looks good on your resume too. If you work in any area of financial services you should know that there will be no job safety for you as more and more jobs are lost to offshoring and automation. Still, we do need humans to do certain things, so let's hope things are not as bad as I see them right now. For all of you still at BlackRock I have one big "good luck".
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Things are not much better today - just look at what's happening in the whole industry. I am on the IT side and many jobs are eliminated and sent to India