Goldman Sachs is cutting up to 3,200 employees this week as Wall Street girds for tough year
Publishing timestamp: 2023-01-09 16:53:47
Summary
Goldman Sachs is laying off 3200 employees, 6.5% of its total workforce, as a result of a decrease in IPO issuance and concerns that the economy will slow further this year. Other investment banks are adopting a "wait and see" attitude and may cut more workers if revenues are tracking below estimates in February and March. Goldman is still hiring in certain areas.
Sentiment: NEGATIVE
Keywords: personnel, investment strategy, goldman sachs group inc, breaking news: investing, credit suisse group ag, banks, layoffs, wall street, citigroup inc, business news, breakingnewsglobal, jobs, breaking news: markets,
Source: https://www.cnbc.com/2023/01/09/goldman-sachs-job-cuts-up-to-3200-employees-laid-off-this-week-.html