Goldman Sachs plans to lay off hundreds of staffers as soon as next week, a person familiar with the matter said. It follows a slump in Wall Street deal making.
Chief Financial Officer Denis Coleman said at the time that the bank would slow its pace of hiring and would be slower to replace departing staff as a result of economic uncertainty.
“There’s no question that economic conditions are tightening to try to control inflation, and as economic conditions tighten, it will have a bigger impact on corporate confidence and also consumer activity in the economy,” Chief Executive David Solomon said on a conference call with analysts in July. “I think it’s hard to gauge exactly how that will play out, and so I think it’s prudent for us to be cautious.
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