Goldman boss David Solomon has raised concerns about the economic outlook in recent monthsThe investment bank is preparing cuts that could affect up to 8% of its global workforce, or nearly 4,000 people, the BBC understands.
Investment banking revenues have plunged this year, as economic uncertainty and a market downturn puts a dampener on mergers and stock listings. Goldman, which employs roughly 49,000 people worldwide, already cut hundreds of jobs earlier this year, resuming an annual culling of low-performers that had paused during the pandemic.The final figures for job cuts are still being determined.
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Bankers to strike
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