Goldman Sachs joined several other firms in plotting layoffs as economic conditions worsen.
Goldman Sachs is planning to cut as many as 4,000 “low performing” staffers as it looks to shed costs during a profitability crunch, according to a report Friday.Semafor reported
The bank has yet to make any final decisions on the scope of the expected job cuts, a person familiar with the bank’s thinking told The Post. After the layoffs, the bank’s headcount will still be higher than it was before the COVID-19 pandemic.on Dec. 6, Goldman’s annual performance review process is rattling employees this year as workers brace for potential cuts.
The layoffs are part of an array of cost-cutting measures reportedly under consideration at the bank. The Financial Times reported that Goldman may slashes bonuses for its investmentthat Goldman was plotting at least 400 cuts across its struggling retail banking division.Goldman Sachs CEO David Solomon recently cited difficult global economic conditions heading into 2023 and signaled the bank would look to cut down on its costs – with a reduction in staffing among the planned initiatives.
In October, Solomon told CNBC that it was “a time to be cautious” and warned of a “good chance” the US economy
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