Bloomberg News reported that more than a third of the cuts would come from Goldman Sachs’ core trading and banking units, citing an unidentified source.
The cuts, which amount to about 6% of the bank’s workforce, are in addition to layoffs in October of underperforming employees, the Times reported.
Since 2018, the company has grown 34%, employing more than 49,000 workers at the end of September, according to Bloomberg News.
Morgan Stanley laid off about 1,600 employees, or 2% of its global workers, in December, according to the Times.
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