Kostyantyn Kryvopust: “Goldman Sachs will cut several thousand employees after the New Year”

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Goldman Sachs will cut approximately 8% of its workforce in January.

One of the largest Wall Street banks, Goldman Sachs, will cut several thousand workers after the New Year.

A total of 8% of the bank’s employees will be cut. The layoffs will affect every division and will most likely take place in January 2023. Employees with low performance indicators and from the field of retail business are primarily at risk.

As the publication notes, the staff reduction may take place before the payment of bonuses, which usually take place closer to the end of January.

Goldman Sachs had already cut staff earlier this year amid uncertainty in the global economy, which is causing a drop in revenue and the need to cut costs. However, at that time the bank fired only a few hundred workers. Now it can be about 4,000 employees.

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