Goldman Sachs will begin cutting jobs this week, with a particular focus on its equities trading business according to Reuters.
This time of year is a traditional time for the firm to cut around 5% of its poorest performing employees, but some areas will be particularly exposed, particular its equity trading, where earnings have been weaker.
Over the past two years, Goldman Sachs has cut 3,300 employees (9% of its workforce.) Lower job security dependent on performance is a particular feature of some investment banking jobs such as trading, but others have more job security. Find out more about the difference between banking roles.
Read more about Goldman Sachs in the news.