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Goldman Sachs will reportedly fire more than 1,300 employees
[NYPOST]  David Solomon is sharpening the axe again.The Goldman Sachs CEO will slash more than 1,300 jobs as part of the bank's ongoing review to cull poor performers, the Wall Street Journal reported on Friday Goldman's cuts will affect between 3% and 4% of Goldman's 45,000-strong workforce, the Journal added, citing people familiar with the matter. The cuts are part of the bank's annual performance reviews that cull those believed to have performed poorly. The layoffs have already started and will continue through the fall, according to the Journal, under the bank's annual review process known as ''strategic resource assessment.'' ''Our annual talent reviews are normal, standard, and customary, but otherwise unremarkable,'' Tony Fratto, a Goldman front man, told the newspaper. He added that headcount would be higher at the end of 2024, compared to the end of last year. The bank regularly seeks to cut back on between 2% and 7% of its workforce each year based on various performance factors, market conditions and its financial outlook. Related: Goldman Sachs: 2024-08-22 Backlash after 818,000 jobs in America 'vanish' from jobs report Goldman Sachs: 2024-08-21 Former Home Depot CEO on Fed officials warning over jobs data: ‘About time' the government ‘got honest' Goldman Sachs: 2024-06-10 Billionaires fighting to build new Californian 'utopian city' for more than 400,000 people with... Posted by: Fred 2024-09-01 |
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