Goldman Sachs Group Inc (GS.N) is reportedly making preparations for another round of layoffs, according to sources familiar with the matter as cited in the Wall Street Journal on Tuesday.
The anticipated job cuts are expected to impact a relatively small number, fewer than 250 positions, which accounts for less than 1% of the bank’s total headcount of 45,400 as of the end of March.
At the time of this report, Goldman Sachs has not provided an immediate response to a request for comment from Reuters.
Should the layoffs occur, it would mark the third instance of job reductions within a span of less than a year, as investment banks grapple with the impact of decreased dealmaking activity. The surge in interest rates has dampened the corporate desire for mergers and acquisitions, leading to challenges for investment banks.
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As reported by the Wall Street Journal, Goldman Sachs has been diligently cutting expenses in nearly every division throughout this year.
