The world's largest money manager promised its 16,200 employees that there will be no layoffs this year in response to the impact of the COVID-19 pandemic.
BlackRock Chairman and CEO Laurence D. Fink announced the news to the firm's employees during an internal town hall meeting Wednesday, said Melissa Garville, a company spokeswoman.
In a LinkedIn post Wednesday, Mr. Fink said "we are committed to making sure our people have the support they need during this time. All of our employees have the flexibility to take off as much time as they need to care for themselves, their family or a loved one."
He said BlackRock will continue to "manage our business and shift resources around to best serve our clients as we always do, but no one at BlackRock should be worrying right now about losing their job as a result of COVID-19," Mr. Fink said.