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The layoffs will be the first for the major investment firm since 2019. | Major investment firm BlackRock, which has drawn substantial backlash for embracing controversial left-wing Environmental, Social, and Governance (ESG) ideology, has reportedly lost $1.5 trillion and plans major layoffs. ● BlackRock CEO Larry Fink and president Rob Kapito made the announcement in a memo sent to employees and viewed by Business Insider. 💬 “Taking a targeted and disciplined approach to how we shape our teams, we will adapt our workforce to align even more closely with our strategic priorities and create opportunities for the immense talent inside the firm to develop and prosper,” the executives wrote. ● The world’s top asset manager, BlackRock manages almost $10 trillion in investments. Its holdings include Amazon, Apple, Microsoft, and Tesla, according to filings with the Securities and Exchange Commission (SEC).