The bank is reinstating a tradition of annual employee culls targeting between 1% and 5% of lower performers in positions across the firm.
Goldman Sachs is planning on cutting several hundred jobs this month, making it the first major Wall Street firm to rein in expenses amid a collapse in deals volume.
The bank is reinstating a tradition of annual employee culls, which have historically targeted between 1% and 5% of lower performers, in positions across the firm, according to a person with direct knowledge of the situation. At the lower end of that range, which is the size of the expected cull, that means several hundred job cuts at the New York-based investment bank with 47,000 employees at midyear.is planning on cutting several hundred jobs this month, making it the first major Wall Street firm to take steps to rein in expenses amid a collapse in deals volume.
The bank is reinstating a tradition of annual employee culls, which have historically targeted between 1% and 5% of lower performers, in positions across the firm, according to a person with direct knowledge of the situation. At the lower end of that range, which is the size of the expected cull, that means several hundred job cuts at the New York-based firm, which had 47,000 employees at midyear.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs Plans to Cut Hundreds of JobsGoldman Sachs plans to lay off hundreds of staffers as soon as next week, a person familiar with the matter said. It follows a slump in Wall Street deal making.
Read more »
Gisele Bundchen-Tom Brady rift is making it ‘weird’ around Buccaneers openerTom Brady and the Buccaneers will kick off their season Sunday on the road in Dallas, and as of Friday, his wife Gisele Bündchen reportedly isn’t set to attend the season-opener.
Read more »
James ‘Big Cat’ Williams Looks Ahead to New Chicago Bears Season“We’ve got a lot of young players, so they can have a losing season and I’d still feel okay about the product as long as things progress the way they should.”
Read more »
Broncos kick off season on Monday Night Football at Seattle on Denver7The Broncos kick off the 2022 NFL season on Monday Night Football against the Seahawks Monday, as Russell Wilson returns to Seattle in a highly-anticipated matchup that will air on Denver7. More:
Read more »
Pokémon GO Event Review: Inkay Limited Research DayPokemonGO Event Review: Did Inkay Limited Research Day kick off the Season of Light with a bang? Let's take a look back. Pokemon
Read more »