Goldman Sachs Group Inc plans more workforce reductions as the difficult economic environment weighs on dealmaking and warned trading revenue could fall 25% this quarter, the bank's president said on Thursday.
John Waldron, president and Chief Operating Officer of Goldman Sachs, speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. REUTERS/Brendan McDermidplans more workforce reductions as the difficult economic environment weighs on dealmaking and warned trading revenue could fall 25% this quarter, the bank's president said on Thursday.
Waldron said the latest job cuts will help the Wall Street titan achieve the $600-million target it set in February for reducing payroll expenses, and said the bank may actually surpass that target by the end of the year.
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