Goldman Sachs (GS) has begun its latest round of job cuts, Reuters‘s Lauren Tara LaCapra reports this evening, a sign that cost cutting is still paramount at Wall Street firms.
Jobs at its trading and investment divisions are on the chopping block, writes LaCapra, according to sources familiar with the situation.
However it’s not immediately clear how many workers might be affected, as individual units have been given varying targets.
The move comes after Goldman eliminated 2,400 jobs last year as part of its annual cull of workers who have underperformed or whose functions can be automated.
Goldman has set out aggressive cost cutting targets recently, achievable largely through workforce reductions.
Goldman shares were up 33 cents at $124.63 in late trading.