Goldman Sachs Reportedly Plans To Cut Over 3,000 Jobs In Coming Week

  • Goldman Sachs Group Inc. GS is gearing up to eliminate about 3,200 positions this week, Bloomberg reported, citing a person with knowledge of the matter. 
  • The investment bank will reportedly zero in on its core trading and banking units for most of the job cuts.
  • Goldman Sachs didn't immediately respond to Benzinga's request for comment.
  • A Semafor report in December said the bank was planning to lay off 4,000 workers as it struggles to meet profitability targets in a difficult economic environment.
  • Goldman's headcount was more than 49,000 as of Sept. 30 — a 34% jump since the end of 2018, as per the report.
  • The bank has said that it expects global mergers & acquisition deals to pick up steam in the second half of this year.
  • The last time Goldman planned a layoff of this scale came after the collapse of Lehman Brothers in 2008, as per Bloomberg.

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