Browsing: banks laying off employees in America

Goldman Sachs lays off employees
  • American investment bank Goldman Sachs plans to lay off 3,200 employees this week
  • Goldman Sachs typically trims about one to five per cent of its employees each year and targets underperforming staff
  • The upcoming trim is expected to be deeper than usual in light of the uncertain economic outlook
  • Major U.S. banks, manufacturers and tech companies announced significant corporate layoffs in 2022, amid high inflation, and five rounds of interest rate hikes sparked fears of a recession

New data has revealed that American investment bank Goldman Sachs plans to lay off thousands of employees this week.

Multiple sources, including Capital FM, reported that Goldman Sachs would lay off 3,200 people, down from the expected 4,000 revealed in December 2022.

Quoting AFP, the news outlet noted that the American firm typically trims about one to five per cent of its employees each year and targets underperforming staff.

Why Goldman Sachs is