LONDON/NEW YORK (Reuters) - Turmoil on financial markets is expected to deepen layoffs and accelerate acquisitions in the fund management industry. BlackRock , the world's largest money manager, and industry No. 3 State Street announced job cuts this month after the worst year for many stock indexes since the financial crisis and losses across most other financial assets. Hedge funds AQR Capital and Balyasny Capital took similar steps. "It will be a common industry trend," said Kyle Sanders, an analyst with financial services firm Edward Jones.