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Goldman Warns of More Job Losses With Jumbo Mergers on the Rise

  • Politicians face era of mergers eliminating jobs, Waldron says
  • He sees sticky unemployment ahead as deals compound automation
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Photographer: Nina Westervelt/Bloomberg

Wall Street’s top matchmaker for megadeals sees a wave of corporate takeovers coming with a worrying implication for the workforce: a jump in job losses.

“Politicians are going to be faced with the uncomfortable reality that you’re going to have more big business doing better and that there’s going to be more losses of jobs along the way,” Goldman Sachs Group Inc. President John Waldron said at a conference Friday. “You are going to see a fairly sizable amount of large-cap M&A coming with stronger, healthier companies being the acquirer and taking advantage of weaknesses in their industry or elsewhere.”