• Goldman Sachs plans to lay off up to 4,000 employees – 8% of its workforce – early next year as it struggles to meet profitability targets.
• Managers across the firm have been asked to identify low performers, with some cautioning that no final list has been drawn up.
• Other Wall Street firms also are cutting staff, but the layoffs being contemplated at Goldman Sachs run much deeper than those occurring at Citigroup and Barclays.
• In a typical year, between 2% and 5% of Goldman’s employees are laid off or receive no bonus — “zeroed out” in industry parlance, a clear sign to start looking for another job.

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