Goldman Sachs readies for a third round of lay-offs that will include some ... trends now

Goldman Sachs readies for a third round of lay-offs that will include some ... trends now
Goldman Sachs readies for a third round of lay-offs that will include some ... trends now

Goldman Sachs readies for a third round of lay-offs that will include some ... trends now

Leading global investment firm Goldman Sachs is preparing for more lay-offs in the next few weeks, after the company has slashed more than 3,000 positions over the last year. 

The redundancies, according to the Wall Street Journal, could occur within the next few weeks and will also affect managing directors and senior executives. 

It is CEO David Solomon's attempts to cut costs as deal-making - the firm's major revenue source - suffers a drought which has been exacerbated by a higher interest rate environment and fears of recession. He has begun slashing a workforce that ballooned following the pandemic. 

The layoffs mark a third round of cuts in under a year, beginning with standard annual redundancies in September of a few hundred employees followed by the elimination of about 3,200 jobs in January across the firm's New York, Hong Kong and London offices, which equates to 6 percent of its workforce. 

Following the first quarter layoffs, the bank went from 49,000 employees to 45,000.

It is CEO David Solomon's attempts to cut costs as deal-making - the firm's major revenue source - suffers a drought which has been exacerbated by a higher interest rate environment and fears of recession. He has begun slashing a workforce that ballooned following the pandemic

It is CEO David Solomon's attempts to cut costs as deal-making - the firm's major revenue source - suffers a drought which has been exacerbated by a higher interest rate environment and fears of recession. He has begun slashing a workforce that ballooned following the pandemic

The firings, according to the Wall Street Journal, could occur within the next few weeks and will also affect managing directors and senior executives

The firings, according to the Wall Street Journal, could occur within the next few weeks and will also affect managing directors and senior executives

In January, the company posted its biggest earnings miss in more than a decade, as the company seeks to recover from the pandemic and a working-from-home and cost-of-living crisis.

The investment banking giant that month reported 2022 fourth-quarter net earnings of $1.33 billion, down 66 percent from last year, and 39 percent below what Wall Street

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