Goldman Sachs to lay off hundreds in new round of job cuts - Business Insider

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Goldman Sachs is planning its second round of layoffs in less than 3 months, after initially saying job cuts would resume in 2021

Goldman Sachs is planning a new round of layoffs this week, its second in less than three months,A person familiar with Goldman's plans told Business Insider the bank will make hundreds of cuts — amounting to less than 1% of its workforce — across various divisions and office locations, and that the cuts won't be specifically concentrated within specific teams.

"At the outbreak of the pandemic, the firm announced that it would suspend any job reductions. The firm has made a decision to move forward with a modest number of layoffs," a spokesperson for Goldman told Business Insider at the time.and resumed layoffs. In recent months, other firms have decided to once again proceed with cost-saving plans: Giants like HSBC, JPMorgan Chase, Deutsche Bank, and Wells Fargo have all moved forward with cuts.

 

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