One year after Goldman Sachs paid out the largest bonuses on Wall Street, the investment banking giant is considering slashing banker bonuses by around 40% — the largest cut to payouts since the 2008 financial crisis.
The bonus cuts for the bank’s 3,000 investment bankers — first reported by Semafor and further detailed by the Financial Times — are reportedly deeper than many of the bank’s Wall Street rivals, stoking fears the bank could face higher staff turnover next year. Bonuses for Goldman’s top 400 partners may even be cut by around half as senior bankers bear the brunt of compensation cuts, Semafor reported.
