Daily Management Review

Goldman Sachs to lay off several thousand employees


In light of the current challenging global economic situation, Goldman Sachs Group intends to lay off thousands of employees. This is according to Reuters, who cites reliable sources.

Dan DeLuca
Dan DeLuca
Goldman Sachs employed 49,100 people worldwide at the end of the third quarter of this year. During the pandemic, the company expanded significantly, with 38,300 employees at the end of 2019.

According to Reuters, even after the planned layoffs, the company will still have more employees than it did before the pandemic. The cuts are scheduled to take effect in January 2023 and will affect the consumer business; additionally, the bank plans to discontinue issuing unsecured consumer loans.

In September, Goldman Sachs laid off approximately 500 employees. In recent months, other major banks, including Morgan Stanley and Citigroup, have announced similar measures.

source: reuters.com