‘David’s Demolition Day’: Goldman Sachs Axes Thousands

  • Goldman Sachs is laying off fewer employees than feared, but the cut is still a deep one. The global investment bank let go of as many as 3,200 employees starting Wednesday, according to a person with knowledge of the firm’s plans.
  • That amounts to 6.5% of the 49,100 employees Goldman had in October, which is below the 8% reported last month as the upper end of possible cuts.
  • The final figure, reported earlier by Bloomberg, is a result of internal discussions between business heads and top management over the last month, said the person, who declined to be identified speaking about personnel decisions.