** Goldman Sachs GS.N plans to trim staffing by 3% to 5% in an annual review process, equivalent to more than 1,395 jobs
** Shares of GS last down 2.5%, with it and other bank shares hit by worries about the Trump administration's launch of tariffs against Canada, Mexico and China
** A GS spokesperson called the job cuts part of the "normal, annual talent management process"
** GS conducted similar workforce reductions in 2023 amid stagnant dealmaking and a retreat from the consumer business
** Company reported its biggest quarterly profit in over three years in January, driven by increased deal fees and active trading markets
** GS stock up about 3% YTD, outperforming S&P 500 .SPX which is down 1%
** Stock is 12% below 52-week intra-day high of $672.19 reached on February 18, 2025
(Reporting by Noel Randewich)
((noel.randewich@tr.com;))
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