Goldman to Cut About 3,200 Jobs This Week After Cost Review
- Managers across firm are expected to start cuts mid-week
- Solomon has said firm is preparing to weather headwinds
This article is for subscribers only.
Goldman Sachs Group Inc. is embarking on one of its biggest rounds 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 won’t exceed 3,200, according to a person with knowledge of the matter. More than a third of those will likely be from within its core trading and banking units, indicating the broad nature of the reductions.