Goldman Sachs to Eliminate 400 Jobs
October 7, 2020 by Alex Padalka
Goldman Sachs is the latest financial services company to reportedly return to laying off staff after suspending any cuts in light of the coronavirus crisis.
The company intends to cut around 1% of its employees, or around 400 jobs, people with knowledge of the matter, who asked to remain anonymous, tell Bloomberg. The current round of cuts will mainly target back office staff that had been incorporated “into bigger money-making divisions as part of an earlier reorganization,” the news service writes, citing one of the people.
“At the outbreak of the pandemic, the firm announced that it would suspend any job reductions,” Patrick Scanlan, a spokesperson for New York-based Goldman Sachs, tells Bloomberg. “The firm has made a decision to move forward with a modest number of layoffs.”