Goldman Sachs to Cut Staff 10%

Restructuring bank will trim 3,000 employees
By Jason Farago,  Newser Staff
Posted Oct 23, 2008 7:39 AM CDT
Goldman Sachs to Cut Staff 10%
The headquarters of investment firm Goldman Sachs towers over smaller buildings in New York in this Dec. 11, 2006 file photo.   (AP Photo/Mark Lennihan, File)

(Newser) – Goldman Sachs will cut almost 3,300 jobs, or about 10% of the bank's total staff, an insider told Reuters today. Although Goldman has weathered the credit crisis better than its competitors, its transition from an investment bank to a traditional enterprise means that it will have to obey stricter regulations and take fewer risks. The bank had no comment.
(Read more Goldman Sachs stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.