Goldman Sachs CEO Warns of Looming Job Cuts amid Slow Economy

Goldman Sachs is preparing for more job cuts in the near future, according to CEO David Solomon.

“We are conducting a careful review and while discussions are still ongoing, we anticipate our headcount reduction will take place in the first half of January,” Solomon explained in a year-end note to employees, Bloomberg reported Wednesday.

“There are a variety of factors impacting the business landscape, including tightening monetary conditions that are slowing down economic activity. For our leadership team, the focus is on preparing the firm to weather these headwinds,” he added.

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