Goldman Sachs to chop at least 400 jobs in retail banking unit as deals fizzle: report

Goldman Sachs aims to cut at least a few hundred more jobs, Bloomberg Law reported on Monday, citing people familiar with the matter. The bank is drafting plans that could eliminate at least 400 po…

at least a few hundred more jobs, Bloomberg Law reported on Monday, citing people familiar with the matter.

Global banks, including Morgan Stanley and Citigroup Inc, have reduced their workforce in recent months as a dealmaking boom on Wall Street has fizzled out due to high interest rates and soaring inflation. The move came after Goldman signaled it was scaling back its ambitions for Marcus, the loss-making consumer unit, in October. Marcus was moved into the bank’s wealth management arm as part of a reorganization of the company’s main business units.

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