Tuesday, July 23, 2024
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Employees at Goldman are jittery about the annual performance evaluation process this year as they prepare for possible layoffs. The bank is considering several cost-cutting measures, including layoffs. According to some reports, Goldman may reduce investment bankers’ compensation by 40% this year, the most significant reduction since the Great Recession. Goldman was preparing to make at least 400 cutbacks to its underperforming retail banking segment.

David Solomon, the CEO of Goldman Sachs, recently pointed to the challenging global economic conditions expected in 2023 and indicated the bank would aim to reduce its costs, with a reduction in the workforce among the anticipated measures.

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