Goldman Leads Foreign Banks Accelerating Job Cuts in Japan

Goldman Sachs Group Inc. led foreign banks in accelerating job cuts at their Japanese brokerages last fiscal year as employees relocated to other Asian financial centers and firms trimmed costs amid a global industry slump.

The number of staff at nine global securities firms in Japan fell by 537, or 7.3 percent, to a combined 6,796 as of March 31, more than double the previous year’s 3.2 percent reduction, according to company regulatory filings.