Word of the layoffs by hard-charging Chief Executive David Solomon spread at the Wall Street giant’s headquarters in downtown Manhattan on Friday, sources said.
Goldman Sachs is expected to fire about 3,200 workers starting on Wednesday — a massive bloodbath that bankers at the firm are calling “David’s Demolition Day,” The Post has learned.
Word of the layoffs by hard-charging Chief Executive David Solomon spread at the Wall Street giant’s headquarters in downtown Manhattan on Friday after a partner in the wealth management division was overheard telling a colleague that culling would begin the following week, sources said.— are nevertheless the most significant since Goldman culled its ranks following the 2008 financial crisis.
The layoffs likewise follow a massive hiring spree under Solomon to fill demand for such pandemic-era dealmaking that has added more than 10,000 employees since he took the helm in 2018. As of Sept. 30, Goldman employed more than 49,000 worldwide, according to financial filings.At least 1,000 casualties will hit the firm’s core businesses like banking and trading, according to a.
The Wall Street giant typically trims about 1% to 5% of employees each year. These new cuts will come on top of the earlier layoffs.
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