The multinational investment bank is preparing to cut a thousands of employees to navigate a difficult economic environment, a source familiar with the move says.
abc.net.au/news/goldman-sachs-job-cuts-planned-lay-off-4000-employees/101785680Goldman Sachs is preparing to cut thousands of employees to navigate a difficult economic environment, a source familiar with the move says.A source says the bank is trying to navigate a difficult economic environmentNews platform Semafor reported on Friday that the multinational investment bank plans to lay-off up to 4,000 people as it struggles to meet profitability targets, citing people familiar with the matter.
The company's headcount wouldremain above pre-pandemic levels, which stood at 38,300 at the end of 2019, the source said.The bank signalled it was scaling back its ambitions for Marcus, the loss-making consumer unit, in October. Chief executive David Solomon, who took the helm in 2018, has tried to diversify the company's operations with Marcus.
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