Goldman Sachs To Shed 3,000 Jobs
Goldman Sachs is to shed 3,260 jobs worldwide – about 10% of its workforce.
A spokesman for the company could not say where the cuts would be made.
The axe would fall “throughout the New York-based company,” the Wall Street Journal reported
In September, tycoon Warren Buffett’s Berkshire Hathaway agreed to buy $5bn of stock in the Wall Street bank which, along with investment bank rival Morgan Stanley, has converted to a bank-holding company amid the worsening financial
“The downsizing wave is likely to get worse on Wall Street in the next several months, from securities firms to hedge funds,” the Journal said.
Among the planned job cuts are Barclays PLC, which plans to eliminate at least 3,000 US jobs, and thousands of jobs at Merrill Lynch & Co. due to the firm’s impending takeover by Bank of America Corp.
Merrill has already cut 5% of its workforce this year.
Some 75 workers were cut this week from its Asian fixed-income and equities trading desks as part of a global reduction of 500 trading jobs.
Original article: Goldman Sachs To Shed 3,000 Jobs From skynews
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