News Formal

Goldman job cuts hit investment banking, global markets hard -source

  • 📰 Reuters
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Goldman Sachs began 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.

Last year was challenging across groups including credit, equities, and investment banking broadly, said Paul Sorbera, president of Wall Street recruitment firm Alliance Consulting. "Many didn't make budgets."The latest cuts will reduce about 6% of Goldman's headcount, which stood at 49,100 at the end of the third quarter.

A trader works at the Goldman Sachs stall on the floor of the New York Stock Exchange, April 16, 2012. REUTERS/Brendan McDermid/File Photo About eight staff were also laid off in Goldman's research department in Hong Kong, the source added, with layoffs ongoing in the investment banking and other divisions.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

And the beat goes on.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

STOCK MARKET NEWS: Inflation data, bank earnings on tap, NYC nurses strike, Goldman Sachs layoffsStocks kickoff the week higher with inflation data and bank earnings due, New York City faces nurses strike, Goldman Sachs set to begin layoffs. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move. Almost as if BIG NEWS just came out. TwitterFiles
Source: FoxBusiness - 🏆 458. / 53 Read more »

STOCK MARKET NEWS: Inflation data, bank earnings on tap, NYC nurses strike, Goldman Sachs layoffsStocks turned mixed as the trading week kicked off, higher with inflation data and bank earnings due, New York City faces nurses strike, Goldman Sachs set to begin layoffs. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Source: FoxBusiness - 🏆 458. / 53 Read more »