Goldman Sachs' John Waldron explains the bank's layoffs

Goldman COO John Waldron said economic uncertainty has been a major challenge for the bank.It's why the bank cannot predict whether it will cut more jobs this year.

Speaking at the Bloomberg Invest conference in Manhattan, Goldman Sachs chief operating officer, John Waldron, said one of the bank's most significant challenges has been mixed economic signals around interest rates, inflation, and a potential recession. When asked about the potential for future job cuts, Waldron cited those"crosscurrents" as a reason the bank's cost-cutting may not be over.

Waldron said it's just as likely that the bank will find itself leaning into a rising economic climate as a falling one.

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