S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Investing.com -- Goldman Sachs is planning to cut between 3% to 5% of its staff as part of a performance-related review set to take place in the spring, according to Reuters, citing an inside source.
This comes after the Wall Street firm carried out a similar review in September, which resulted in a minor reduction in their workforce. A representative from the bank did not provide specific details about the process but stated that, like other financial institutions, this is a standard part of their annual talent management procedure.
The bank’s CEO, David Solomon, has reportedly informed senior executives that the firm has over-recruited vice presidents in recent years, according to The Wall Street Journal. Therefore, the company is preparing for a round of layoffs targeting this group.
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