BlackRock is laying off about 500 employees globally in what appears to be its biggest round of cuts yet. The New York-based firm said in a Thursday memo to employees obtained by Business Insider.

The world's largest asset manager will cut about 3% of its 15,000-person workforce globally, touching every region, seniority level, and business line.

Despite the reductions, BlackRock's headcount is still 4% higher than a year ago, the memo said.

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