Request Media Kit

Goldman Sachs to Lay Off Up to 8% of Its Employees

Goldman Sachs is the latest company turning to layoffs to weather the economic downturn, reportedly looking to cut up to 8% of its staff....
Goldman Sachs to Lay Off Up to 8% of Its Employees
Written by Matt Milano
  • Goldman Sachs is the latest company turning to layoffs to weather the economic downturn, reportedly looking to cut up to 8% of its staff.

    According to Business Insider, no decision has been made on the exact number of employees to be laid off, but it is believed to comprise as many as 8%. Semafor, however, previously pegged the number at 4,000 out of a total of 49,100 employees.

    The layoffs could hit as early as January and come on the heels of a warning from CEO David Solomon that rough roads were ahead.

    “We continue to see headwinds on our expense lines, particularly in the near term,” Solomon said at last week. “We’ve set in motion certain expense mitigation plans, but it will take some time to realize the benefits. Ultimately, we will remain nimble and we will size the firm to reflect the opportunity set.”

    Get the WebProNews newsletter
    delivered to your inbox

    Get the free daily newsletter read by decision makers

    Subscribe
    Advertise with Us

    Ready to get started?

    Get our media kit