Asset management and investment firm BlackRock Inc. is the latest financial firm to cut jobs amid the ongoing credit crisis.

U.S. asset manager BlackRock Inc <BLK.N> warned its employees on Monday of impending job cuts to be made this week, saying it was looking for ways to reduce expenses in the challenging market and economic conditions.

BOSTON (Reuters) - U.S. asset manager BlackRock Inc <BLK.N> warned its employees on Monday of impending job cuts to be made this week, saying it was looking for ways to reduce expenses in the challenging market and economic conditions.

BlackRock Inc <BLK.N> CEO Laurence Fink said on Thursday "we are starting to see some healing in the credit markets," in an interview on CNBC. Highlights:

(Reuters) - BlackRock Inc <BLK.N> CEO Laurence Fink said on Thursday "we are starting to see some healing in the credit markets," in an interview on CNBC. Highlights:

The global financial crisis will reshape the funds management business in terms of competition, government regulation and investors' taste for products, the chief executive of U.S. asset manager Vanguard Group said.

Shares of asset-management firms fell more sharply than the broader market Wednesday after analysts tallied up the damage from clients pulling out money from stock and bond funds in search of safer investments.

Investors are selling because of credit fears and fears of a global recession, but there is also forced selling from leveraged and redeemed players, Robert Doll, chief investment officer at BlackRock, told CNBC Friday.

Stocks sold off in the final hour of trading, an hour that has become known for wild, unpredictable swings, as a new government plan to juice money-market funds and some dismal corporate outlooks kept investors on edge.

Stocks retreated after a fleeting uptick as investors digested a slew of earnings and some dismal outlooks and signs of a thawing in the credit markets.

Stocks turned lower again after paring most of their losses amid more signs of thawing in the seized up credit markets.

U.S. companies ranging from chemicals like Du Pont, to pharmas like Pfizer and Schering Plough, and financials like Fifth Third and BlackRock, reported earnings Tuesday.

U.S. stock market index futures pointed to a lower open for Wall Street Tuesday as worries over the health of the economy offset enthusiasm after news of a possible second stimulus package.

With so many other factors powering the market these days, third-quarter earnings could be little more than an afterthought.

Stocks declined Wednesday as comments from Federal Reserve Chairman Ben Bernanke sent the already-rattled market to session lows.