Goldman Sachs, one of the most powerful Wall Street firms, started informing employees on Wednesday if they would keep their jobs, Fortune has learned.
Goldman is expected to slash up to 3,200 positions globally, down from the prior expectation of up to 4,000. Due to time zone differences, the layoffs began earlier in Asia, while employees in New York began learning their fate during the work day Wednesday. The mood at Goldman was dour, one person familiar with the situation said. "Remember many [Goldman employees] have never been through a downsizing," the person said.
