According to media reports citing a memo from Blackrock (BLK.US), the company plans to lay off about 1% of its employees, which amounts to 200 employees since the company has more than 21,000 employees.

The company stated that this layoff is part of a strategic realignment of resources. The memo indicated that the company added 3,750 employees last year and expects to hire 2,000 more employees after reaching Trades with Global Infrastructure Partners and private Crediting Institutions HPS Investment Partners.