Go Woke, Go Broke: BlackRock Announces ESG Related Layoffs

NewsBusters Reports: The wages of ESG advocacy have come due for BlackRock according to Fox Business correspondent Charlie Gasparino

Gasparino made clear that BlackRock CEO Larry Fink’s obsession with pushing radical Environmental, Social and Governance investing was going to cost a significant number of BlackRock employees their jobs on Cavuto Live Jan. 6. Gasparino told Fox News anchor Neil Cavuto, “More bad news coming out of BlackRock. As you know, BlackRock is… the world's largest money manager, huge into ESG.

And because of that, it's become a lightning rod for criticism, particularly–in red states.” Gasparino elaborated in a Fox Business report that BlackRock would fire “around 600 employees” or around 3% of BlackRock’s workforce.

During his Fox News appearance, Gasparino noted that the ESG backlash had reached as far as Republican presidential candidates and the average investor, leading people to withdraw funds from BlackRock in protest.

“Larry Fink, the head of BlackRock, his name came up very negatively in the latest presidential debate because he forces, allegedly, ESG on companies, and that’s progressive investing,” Gasparino added. “People are pulling money out of BlackRock's funds, particularly–red state pension funds. And because of that, we understand, they're going to have a round of layoffs next week.”