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Goldman Sachs Cuts Jobs, Boosts AI Efficiency Strategy

10/16/2025

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Summary

Goldman Sachs Job Cuts

Goldman Sachs plans further job cuts under its OneGS 3.0 strategy to boost efficiency through AI, limiting headcount growth and reducing roles automatable by AI.
An internal memo notes that despite cuts, the bank expects a net workforce gain by year-end, with a current headcount of 48,300.
The plan targets client onboarding and regulatory reporting to accelerate operations and enable faster, more agile use of AI.

Summary

JPMorgan AI Expansion

JPMorgan Chase & Co is expanding artificial intelligence in operations to boost efficiency.
CEO Jamie Dimon says the bank will retrain employees affected by AI-driven job cuts.
In Q3 2025, JPMorgan Chase posted a 12% profit increase and a 1% headcount rise.
Citigroup and Goldman Sachs also pursue AI to automate processes, though responsible AI standards remain incomplete.

History

Historical Context

The Great Depression began with the Wall Street Crash of October 1929, leading to widespread bank failures and a staggering unemployment rate of 25% by 1933. Over 9,000 banks closed, causing a significant contraction in the money supply. Today’s AI-driven job cuts reflect historical trends of economic restructuring, highlighting the ongoing evolution of workforce dynamics shaped by technological advancements.

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Goldman Sachs Job Cuts

Goldman Sachs plans further job cuts under its OneGS 3.0 strategy to boost efficiency through AI, limiting headcount growth and reducing roles automatable by AI.
An internal memo notes that despite cuts, the bank expects a net workforce gain by year-end, with a current headcount of 48,300.
The plan targets client onboarding and regulatory reporting to accelerate operations and enable faster, more agile use of AI.

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