16:40 - 25.06.2023
June 25, Fineko/abc.az. American bank Goldman Sachs Group Inc. has begun a large, but not public reduction of its managing directors around the world.
ABC.AZ reports that according to agency's sources, speech is about 125 managing directors, including in large investment banking companies.
The reason for this step is called the decline in the number of financial transactions around the world and, as a result, the need for further reduction of bank's expenses. Bloomberg notes that this step is part of a large program, in less than a year Goldman Sachs has already cut jobs three times. This is partly caused by bank’s previous policy, which in 2020-2021 dramatically increased the number of employees due to a surge in mergers and acquisitions and initial public offerings of shares.
Bank’s representative declined to comment on the situation to journalists.
