by Wolf Richter
A “Warning about March Nonfarm Payrolls”
It has been a daily drum beat. Today “people with knowledge of the matter” told Bloomberg that BlackRock, the world’s largest asset manager, would whittle down its workforce of 13,000 by about 3%, or 400 jobs, the largest round of layoffs at the firm ever.
Yesterday, The Seattle Times reported that Boeing will trim off 4,000 jobs by June. It could get much worse. According to documents the paper had obtained, at least one unit is targeting cuts of 10% overall: “And people with knowledge of what’s planned say that’s roughly the percentage of jobs expected to be cut statewide. That would translate to as many as 8,000 jobs being eliminated.”