Goldman Sachs will start cutting thousands of jobs across the business from this week in an effort to sharply cut costs, according to reports.
The US investment banking giant is expected to axe around 3,200 roles as it prepares for tough economic conditions, including recessions in many key markets. According to Bloomberg, the bank will cut around 6.5 per cent of roles from its 49,000 workforce and will include reductions in its core trading and banking units.
The company is also expected to cut hundreds of jobs from its loss-making consumer operation after scaling back its direct-to-consumer division, called Marcus.
