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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
Bloomberg business news
WATCH: Goldman is said to be embarking on one of its biggest rounds of job cuts this week. Su Keenan reports.Source: Bloomberg
Updated on

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.