Goldman Sachs said to have conducted lay-offs at its investment banking unit

According to sources, Goldman Sachs Group Inc. conducted lay-offs at its investment banking division in the last few weeks.

As part of the job cuts, the bank eliminated dozens of managing directors, executive directors and vice presidents across the mergers, debt and equity capital markets unit in cities including London, New York and Hong Kong.

These cuts were termed to be in addition to the bank’s annual 5% percent planned layoffs of employees deemed underperformers.

Source: Bloomberg

 

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