Goldman Sachs Group Inc will begin one of the biggest round of layoffs by firing nearly 3,200 employees this week.
Investment banking company Goldman Sachs Group Inc will begin its biggest round of layoffs by letting go of nearly 3,200 employees, news agency Bloomberg reported on Monday.
This, as institutional banks have suffered a major slowdown in corporate deals as a result of volatile global financial markets.
The report added that the scale of firings this year is also affected by the firm’s decision to mostly set aside its annual cut of underperformers during the pandemic.
It must be noted that the final job reductions figure is lower than earlier proposals in management ranks that could have eliminated nearly 4,000 jobs.
The last major layoff exercise of this scale came after the collapse of Lehman Brothers in 2008.

Source- https://www.cnbctv18.com/business/companies/goldman-sachs-to-lay-off-nearly-3200-employees-this-week-these-divisions-to-be-impacted-15611481.htm

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