Goldman Sachs prepares to lay off almost 4,000 employees via IrishTimesBiz
The bank announced a major overhaul in October that included a merger of the investment banking and trading division, as well as a pullback from consumer banking following investor criticism of its losses and escalating costs.
“We continue to see headwinds on our expense lines, particularly in the near term,” he said. “We’ve set in motion certain expense mitigation plans, but it will take some time to realise the benefits. Ultimately, we will remain nimble and we will size the firm to reflect the opportunity set.” The axe could fall hardest on the consumer business, where at least 400 positions could be eliminated.
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