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

 

BNP Paribas to cut 233 investment banking jobs in London

According to sources, BNP Paribas plans on laying off about 233 employees from its investment banking division in London.

A 35-member securitization desk will also be halved, as part of the planned job cuts.

As per sources, 100 employees would leave within weeks and the rest, by the end of the year.

The France-based lender had previously announced 675 job cuts from its investment banking division in Paris.

Source: Bloomberg