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Goldman Sachs Layoffs May Hit Nearly 250 Jobs In Coming Weeks: Report

Goldman Sachs Layoffs May Hit Nearly 250 Jobs In Coming Weeks: Report

Goldman Sachs layoffs could be spread across seniority levels and includes partners and managing directors

Goldman Sachs layoffs 2023
Goldman Sachs .

Goldman Sachs layoffs are here once again. As per a report, Goldman Sachs Inc is expected to undertake another round of job cuts, but this time for less than 250 roles.

According to a report in Reuters, this round of Goldman Sachs layoffs would begin in the coming weeks as a “sluggish market for deals weighs on investment banking.” While the exact number of Goldman employees to be sacked is still uncertain, the number is expected to be less than 250.

The report adds that the departures due to Goldman Sachs layoffs could be spread across seniority levels and includes partners and managing directors. At the end of March 2023, Goldman reportedly had about 45,500 employees. 

With another round of layoffs, it is clear that Goldman Sachs is still navigating tricky waters in the event of a global economic downturn. Before this, Goldman sacked about 3,000 jobs in the first quarter, making it the biggest round of mass layoffs since the 2008 financial crisis.

Like other companies that started laying off employees in 2022, even Goldman Sachs cut about 500 jobs back then. This was along with its peers like Morgan Stanley and JP Morgan also cutting jobs.

The report also reads, “Goldman Sachs Chief Financial Officer Denis Coleman told investors in late February that the bank planned to improve its efficiency ratio by reducing headcount, not replacing staff who depart and trimming other expenses.” The plan also reportedly included $600 million in payroll reduction and layoffs. 

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