Goldman stepped up laying off staff on Wednesday in a sweeping cost-cutting drive, with around a third of those affected coming from the investment banking and global markets division, a source familiar with the matter said.
The long-expected jobs cull at Goldman follows a recruitment drive during the pandemic, which saw the bank's total headcount top 49,000. "Everyone at banks is anxious, no doubt. We have seen bankers at managing director level let go these past few days," he said. "We know this is a difficult time for people leaving the firm. We're grateful for all our people's contributions, and we're providing support to ease their transitions," a memo seen by Reuters and signed by Tony Fratto, the bank's global head of communication, said.Oliveira said some bankers who have reached out to recruiters like him are considering ditching investment banking for other positions.
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