Goldman Weighs Up to 4,000 Job Cuts in Potential 8% Pullback
- Escalating costs leave managers searching for ways to save
- Marcus mistakes compound business slowdown eating into profits
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Goldman Sachs Group Inc. may eliminate as many as 4,000 jobs, or roughly 8% of the workforce, as Chief Executive Officer David Solomon battles to contain a slump in profit and revenue.
Top managers have been asked to identify potential cost-reduction targets, and no final job-cut number has been determined, a person familiar with the matter said, asking not to be identified discussing internal deliberations.