Business Standard

Goldman Sachs to unveil fresh job cuts in a matter of weeks, says CEO

Top managers have been asked to identify potential cost-reduction targets, and no final job-cut number has been determined

Goldman Sachs Group CEO David Solomon
Premium

Goldman Sachs Group CEO David Solomon

Sridhar Natarajan | Bloomberg
Goldman Sachs Group Inc. is working on a fresh round of job cuts that will be unveiled in a matter of weeks, Chief Executive Officer David Solomon said in his traditional year-end message to staff.
 
“We are conducting a careful review and while discussions are still ongoing, we anticipate our headcount reduction will take place in the first half of January,” Solomon said. “There are a variety of factors impacting the business landscape, including tightening monetary conditions that are slowing down economic activity. For our leadership team, the focus is on preparing the firm to weather these headwinds.”

The firm

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 29 2022 | 8:24 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com