As it prepares for a more challenging climate in 2023, investment bank Goldman Sachs plans to lay off up to 8% of its personnel, according to a source with knowledge of the situation, as reported by The Wall Street Journal on Saturday.
Bloomberg estimates that 4,000 people may lose their jobs as a result of CEO David Solomon’s efforts to stem the bleeding of falling profits and sales.
As a result of a slowdown in mergers and stock offerings, revenues have plummeted this year, and these layoffs are the latest indication that Wall Street retrenchment is intensifying.
Image: REUTERS/Andrew Kelly
What Happens To Multi-Million Crypto Buying Plan?
Goldman Sachs recently announced plans to spend tens of millions of dollars to purchase or invest in crypto firms, following the collapse of crypto exchange FTX, which dealt a significant blow to valuations and depressed investor interest.
The failure of FTX is the latest in a string of…
