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    Vikshita Vitthal Gujaran in News

    09-Jan-2023 04:37 AM


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    Goldman To Cut About 3,200 Jobs This Week After Cost Review

    The firm is expected to start the process mid-week.
    Goldman Sachs Group Inc. is embarking on one of its biggest round of job cuts ever as it locks in on a plan to eliminate about 3,200 positions this week, with the bank's leadership going deeper than rivals to shed jobs.
    The firm is expected to start the process mid-week and the total number of people affected will not exceed 3,200, according to a person with knowledge of the matter.
    A spokesperson for the New York-based company declined to comment.
    Slowdowns in various business lines, an expensive consumer-banking foray, and an uncertain outlook for markets and the economy are prompting the bank to batten down costs.
    The final job reductions figure is significantly lower than earlier proposals in management ranks that could have eliminated nearly 4,000 jobs.

    Source - https://www.ndtv.com/business/goldman-to-cut-about-3-200-jobs-this-week-after-cost-review-3675211

    #goldman