.webp?h=8 "Current Thing (support) - Slava Ukraini!")
https://www.reuters.com/business/finance/goldman-job-cuts-begin-with-investment-banking-global-markets-hit-hard-source-2023-01-11
Just over 3,000 employees will be let go, the source, who could not be named, said on Monday. A separate source confirmed on Wednesday that cuts had started.
The cuts are part of broader reductions across the banking industry as a possible global recession looms. At least 5,000 people are in the process of being cut from various banks. In addition to the 3,000 from Goldman, Morgan Stanley (MS.N) has cut about 2% of its workforce, or 1,600 people, a source said last month while HSBC (HSBA.L) is shedding at least 200, sources previously said.
The company is also cutting its annual bonus payments this year to reflect depressed market conditions, with payouts expected to fall about 40%.
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That was worse than I thought it would be. They even singled out a certain user.
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