Earlier this month, there were reports that the banking giant was planning to lay off about 8% of its workforce, or nearly 4,000 employees.
The CEO of Goldman Sachs Group Inc. expects to cut jobs in early January, according to a report late Wednesday.
In his annual year-end letter to staff, Goldman GS Chief Executive David Solomon said “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,” according to Bloomberg News. Goldman reintroduced performance reviews in 2022, after suspending them during the pandemic. In pre-pandemic times, about 2% to 5% of its lowest-performing employees would be laid off every year.
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