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Goldman Sachs Plans 1,395 Job Cuts Amid Efficiency Push

3/5/2025

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Summary

Story summary

Goldman Sachs intends to reduce its workforce by 3-5%, impacting over 1,395 jobs, primarily among under-performing vice presidents.
These layoffs are part of the annual talent management process, with plans for new hires later this year.
CEO David Solomon stresses the importance of efficiency amid ongoing economic uncertainty.
The workforce decreased from 48,500 to 46,500 by the end of 2024.

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Story summary

Goldman Sachs intends to reduce its workforce by 3-5%, impacting over 1,395 jobs, primarily among under-performing vice presidents.
These layoffs are part of the annual talent management process, with plans for new hires later this year.
CEO David Solomon stresses the importance of efficiency amid ongoing economic uncertainty.
The workforce decreased from 48,500 to 46,500 by the end of 2024.