Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) notified roughly 3,200 employees this week that they have been laid off, part of previously reported plans to slash 10 percent of the firm's global work force amid slumping markets, people familiar with the situation said Wednesday. Goldman Sachs declined to comment. Two weeks ago, Reuters reported Goldman planned to cut 10 percent of its staff, or almost 3,300 jobs, reflecting the weak economy and a cut back in proprietary trading. The cuts are an about-face for a company that as recently as September insisted its headcount would rise this year.



Go to Full Article