Goldman Sachs to Cut 8% of Workforce Starting in January 2023, 4,000 of 49,000 Employees

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Goldman Sachs to Cut 8% of Workforce Starting in January 2023, 4,000 of 49,000 Employees

17th December 2022 | Hong Kong

Goldman Sachs, one of the world’s largest financial institution with 49,000 employees worldwide, is preparing to cut 8% of its workforce starting in January 2023, impacting around 4,000 of Goldman Sachs 49,000 employees.   Earlier in October 2022, Goldman Sachs announced the regroup into 3 business units – Asset Management & Wealth Management (includes private banking) with $2.4 trillion AUM (Assets under Management) led by Marc Nachmann (Goldman Sachs Global co-head of Global markets), the 2nd unit is Investment Banking & Trading,  and the 3rd unit is Transaction Banking & Fintech Portfolio.  Earlier in September 2022, Goldman Sachs had planned to reduce 1% to 5% of its workforce, with several hundred jobs expected to be cut in the 2 months (September, October 2022).  More info below.

” Goldman Sachs to Cut 8% of Workforce Starting in January 2023, 4,000 of 49,000 Employees “

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Goldman Sachs Regroup into 3 Units: Asset & Wealth Management with $2.4 Trillion AUM Led by Marc Nachmann, Investment Banking & Trading and Transaction Banking & Fintech Portfolio

20th October 2022 – Goldman Sachs is regrouping into 3 business units – Asset Management & Wealth Management (includes private banking) with $2.4 trillion AUM (Assets under Management) led by Marc Nachmann (Goldman Sachs Global co-head of Global markets), the 2nd unit is Investment Banking & Trading,  and the 3rd unit is Transaction Banking & Fintech Portfolio.  Earlier in September 2022, Goldman Sachs had planned to reduce 1% to 5% of its workforce, with several hundred jobs expected to be cut in the 2 months (September, October 2022).  Goldman Sachs is one of the world’s strongest financial institutions, across multiple businesses worldwide, including investment banking, trading, asset & wealth management.  David Solomon Goldman Sachs Chairman & Chief Executive Officer at 2022 Q2 Earnings: “We delivered solid results in the second quarter as clients turned to us for our expertise and execution in these challenging markets. Despite increased volatility and uncertainty, I remain confident in our ability to navigate the environment, dynamically manage our resources and drive long-term, accretive returns for shareholders.”

Goldman Sachs is a leading global financial institution that delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

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