Goldman Sachs Group (GS) is expected to cut about 3% to 5% of its workforce, with a focus on reducing the number of vice presidents on its payroll, The Wall Street Journal reported Tuesday, citing people familiar with the matter.
Goldman Chief Executive David Solomon told senior executives that the company has hired too many vice presidents in recent years relative to overall hiring, the people reportedly told the Journal.
Goldman Sachs did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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