Goldman Sachs reportedly eyes further job cuts: Bloomberg
By Yasin Ebrahim
Investing.com -- Goldman Sachs will reportedly cut hundreds of more jobs as the investment bank restructures its consumer business and looks to batten down the hatches amid brewing economic uncertainty, Bloomberg reported Monday, citing unnamed sources.
Goldman Sachs Group Inc (NYSE: GS ) pared some gains following the news to trade 0.2% higher at $359.89, down from a session high of $362.33.
The bank is planning to cut at least 400 positions from its retail banking operations, Bloomberg reported, citing people familiar with the matter.
The report comes less than a week after Goldman Sachs CEO David Solomon warned in a Bloomberg interview that the bank may have to be a "little more cautious" with its financial resources.
“You have to assume that we have some bumpy times ahead,” Solomon said in an interview, according to Bloomberg. “You have to be a little more cautious with your financial resources, with your sizing and footprint of the organization.”
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or