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Goldman Sachs announces new round of layoffs to cut costs


Goldman Sachs begins a second wave of job cuts that will affect the employment of some 400 workers. The bank had already announced in September, "a modest number of layoffs", after having halted the staff cuts at the beginning of the year with the arrival of the Covid.

The bank is seeking to reduce its operating costs around $ 1.3 billion for the next three years. Plan that he announced last January, as part of a much broader strategic renovation plan. According to the report, they hope to deepen this reform even further, so that in the next year much more significant reduction of personnel could eventually be carried out.

"He has made the decision to go ahead with a modest number of layoffs," Goldman Sachs sources tell Reuters, although they assured that it was not clear whether it would be a recurring situation, leaving it in doubt. In addition to the reduction in personnel, another change to reduce costs is the relocation to less expensive places such as Salt Lake City, Dallas and Bengaluru, India, assured the Chief Financial Officer Stephen Scherr earlier this month.


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