David Solomon, CEO, Goldman Sachs, speaks during the Milken Institute Global Conference successful Beverly Hills, California, April 29, 2019.
Kyle Grillot | Bloomberg | Getty Images
Goldman Sachs is preparing for its 3rd circular of layoffs since September arsenic Wall Street firms set to a slump successful deals activity.
The institution is expected to trim less than 250 jobs successful the coming weeks, a idiosyncratic with cognition of the New York-based bank's plans said Tuesday.
Goldman Sachs, led by CEO David Solomon, was among the archetypal large Wall Street firms to trim jobs successful September, cutting a few hundred positions. It past slashed much jobs successful January, releasing astir 3,200 employees. Morgan Stanley announced astir 3,000 occupation cuts this month, and JPMorgan Chase chopped astir 500 jobs, CNBC reported past week.
But Goldman is much tied to the ups and downs of Wall Street than its rivals. Its combined 16% driblet successful first-quarter trading and advisory gross contributed to a disappointing commencement to the year.
Managing directors and immoderate partners volition beryllium affected by the Goldman cuts, according to the person, who declined to beryllium identified speaking astir layoffs. The Wall Street Journal reported the quality earlier Tuesday.
Goldman had 45,400 employees arsenic of March 31, a 6% diminution from the 4th fourth of 2022.
Clarification: This communicative was updated to bespeak that JPMorgan Chase had chopped astir 500 jobs past week.
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