BlackRock plans to layoff 59 employees in San Francisco at the end of January, according to a filing made with state regulators.
BlackRock spokeswoman Bobbie Collins confirmed Tuesday in an e-mail that the company made the filing with the California Employment Development Department on Dec. 7, but declined to comment further. Companies are required to give employees at least 60 days' notice of impending layoffs under both state and federal laws.
BlackRock is based in New York, but its iShares ETF business, which it acquired as part of its purchase of Barclay Global Investors in December 2009, is based in San Francisco.
A BlackRock source said most of those being laid off work in the iShares unit, though other BlackRock employees based in San Francisco will also affected.