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Goldman Sachs may cut more than 1,300 employees in annual review, source says

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Goldman Sachs plans to trim its staffing by 3% to 5% in an annual performance review process this spring, said a source familiar with the matter who declined to be identified discussing personnel matters.
Goldman Sachs Group Inc. is considering reducing its workforce by approximately 3% to 5% as part of its annual performance review process, according to a source familiar with the matter. This potential reduction, which could affect around 1,000 to 1,600 employees, is part of the bank's regular evaluation of staff performance and is not directly linked to financial performance or cost savings. The decision comes amidst a backdrop where Wall Street banks are navigating through economic uncertainties, including high interest rates and geopolitical tensions. However, the source emphasized that these cuts are typical for this time of year and not indicative of broader layoffs. The final numbers could still change as the review process continues.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/goldman-sachs-may-cut-3-5-staff-part-annual-review-source-says-2025-03-04/ ]