Feb 25 Goldman Sachs Group Inc (GS.N) plans to
begin a fresh round of job cuts as early as this week, sources
familiar with the matter said on Monday, with its equities
business bracing for bigger cuts than fixed-income trading.
The cuts come at the time of year in which the Wall Street
bank typically gets rid of its weakest 5 percent of employees
across the entire firm. But as the trading business continues to
suffer from weak volumes and earnings, the losses are expected
to be deeper in some businesses.
Equities trading will likely see cuts bigger than 5 percent,
while fixed-income trading, which took big hits last year and
has had better volumes, will likely see cuts of less than 5
percent the sources said.
Goldman's latest round of dismissals follows the bank's
layoffs of 3,300 employees, or 9 percent of its workforce, over
the past two years.
(Reporting By Lauren Tara LaCapra and Katya Wachtel; Editing by
Keywords: GOLDMAN CUTS/
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