Goldman Sachs to ax 125 managing directors worldwide in latest layoffsBy Shannon Thaler
June 26, 2023
Goldman Sachs has begun axing managing directors across the globe as the Wall Street giant looks to cut costs amid a profitability crunch, sources familiar with the matter told Bloomberg.
About 125 managing directors, including some in investment banking, are going to be fired as part of a round of layoffs that’s set to affect 250 employees at every level, a spokeswoman told The Post.
While the spokeswoman declined to comment any further, sources — who asked to remain anonymous since the matter isn’t public — told Bloomberg that managing directors have already begun to receive pink slips.
The latest reduction in headcount comes as deal values have fallen more than 40% to $1.2 trillion this year.
Goldman Sachs ranked as the No. 2 adviser globally, according to data compiled by Bloomberg.
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Source:
https://nypost.com/2023/06/26/goldman-sachs-to-cut-125-managing-directors-worldwide/
