The investment bank reinstated performance-related job cuts in 2022 after halting it for two years due to the COVID-19 pandemic
The Goldman Sachs company logo is on the floor of the New York Stock Exchange in New York City, U.S., July 13, 2021.Goldman Sachs is planning to cut a few hundred jobs as part of an annual review process aimed at low performers, a person familiar with the matter told Reuters on Friday.
“Our annual talent reviews are normal, standard and customary, but otherwise unremarkable,” a Goldman spokesperson said in a statement to Reuters. “We expect to have more people working at Goldman Sachs in 2024 than 2023.” The bank’s global workforce stood at 44,300, as of quarter ended June 30. It took on multiple rounds of workforce reductions in 2023 as dealmaking suffered and higher-for-longer interest rates weighed on the macroeconomic outlook.
The resilience of the U.S. economy has given corporate executives the confidence to pursue deals, debt sales and stock offerings. But despite an industry-wide recovery, dealmaking activity has remained below historical averages.
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