Goldman Sachs Plans to Cut 15 Jobs in New York by Year-End

  • Cuts bring total reductions to more than 420 employees
  • Workers were told of their dismissals in July, spokesman says

Goldman Sachs Group Inc. told state regulators it plans to cut 15 jobs in New York before the end of this year.

The reductions are scheduled to start Oct. 3, the company said in a notice with the state Labor Department dated Aug. 19. The employees were notified in July, according to Michael DuVally, a spokesman for the bank.

Goldman Sachs has been reducing staff as it seeks to weather a slump in trading and dealmaking. The firm has extended cuts in its fixed-income division to roughly 10 percent of staff, double what it normally culls each year.

Goldman Sachs has enacted at least four rounds of job cuts this year, with prior announcements informing New York officials of 408 dismissals. The bank had 34,800 total staff as of June 30, according to a filing.

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