Goldman Sachs to Cut More Than 5% of Fixed-Income Workers
- Firm said to have begun annual exercise of cutting jobs
- Staff began hearing last month; talks may continue into April
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Goldman Sachs Group Inc. plans to eliminate more than 5 percent of traders and salespeople in its fixed-income business, cutting deeper into those operations than an annual companywide cull that has already begun, according to a person briefed on the matter.
The reductions will affect less than 10 percent of the fixed-income workforce, said the person, who asked not to be identified discussing personnel matters. The firm filed a list of 43 workers with the New York State Department of Labor last month, alerting the agency to the first round of cuts across the New York-based company.