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>>> Goldman Sachs Plans To Lay Off 125 Managing Directors Worldwide: Report


Benzinga

by Akanksha Bakshi

June 26, 2023


https://finance.yahoo.com/news/goldman-sachs-plans-lay-off-153340300.html


Goldman Sachs Group Inc (NYSE: GS) reportedly has begun laying off managing directors globally.

Goldman has started cutting managing directors across the globe as the firm reduces its headcount amid deals slump, reported Bloomberg, citing people familiar with the matter.

Around 125 MDs, including some in investment banking, will lose their jobs, stated the source.

Investment banks have been reducing the headcount, as the slump in deals led to declines in fees and revenues at all major institutions.

The cutbacks are part of a major cost-cutting campaign to reduce costs by $1 billion. In less than a year, Goldman has seen at least three rounds of layoffs.

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