Downsizing at Wall Street investment firms continues. The investment bank Goldman Sachs plans to lay off 8% of his employees, about 4,000 employees, in January. This is what the CNBC network reports according to a source close to the issue. As of the end of September this year, Goldman Sachs employed approximately 49,000 people, 14% more than in September 2021.
According to the report, the reductions will be made in all departments of the company. According to the same source, the company’s management is holding discussions on the issue and it is possible that the scope of layoffs will be lower.
stock Goldman Sachs Registers a decrease of about 1% during today’s trading, completing a 13% retreat since the beginning of the year.
The report is published after a week ago CNBC reported that the investment bank Morgan Stanley lays off about 2% of the workforce. The bank employs about 81,500 people, of which about 1,600 worldwide will be laid off as part of the move.
In the third quarter of this year, approximately 2,300 transactions with a value of approximately 289 billion dollars were conducted at Morgan Stanley. This is a decrease of approximately 64 percent in the value of the transactions, and a decrease of approximately 34 percent in the amount of transactions relative to the third quarter a year earlier, according to data from the EY company.
US investment banks have increased their workforce in recent years. Morgan Stanley has increased the number of employees by 34 percent since the first quarter of 2020, including the acquisition of two investment consulting firms, according to the CNBC report.