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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. "The macro backdrop is extraordinarily challenging," Goldman's President and Chief Operating Officer John Waldron told investors at a conference, without specifying the scale of the layoffs. He also said he expects a 25% fall in market revenue for both equities and fixed income in the current quarter from a year earlier.
In response to the global slump in deal-making, Goldman (GS) follows its peers to navigate industry headwinds by resorting to another round of layoffs in its IB division.
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In the latest trading session, Goldman Sachs (GS) closed at $330.83, marking a -0.36% move from the previous day.
The departures could be spread across seniority levels and include partners and managing directors, the source said. The layoffs were reported earlier by the Wall Street Journal. Goldman had 45,400 employees at the end of March.
The fact that multiple The Goldman Sachs Group, Inc. ( NYSE:GS ) insiders offloaded a considerable amount of shares...
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Investors need to pay close attention to Goldman Sachs (GSBD) stock based on the movements in the options market lately.
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In the latest trading session, Goldman Sachs (GS) closed at $323.57, marking a -0.42% move from the previous day.
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Not only does that translate into lower savings account balances, but it can also mean lower retirement plan balances -- and less long-term financial security. Goldman Sachs has agreed to pay $215 million to settle a long-standing class action lawsuit that accused the bank of underpaying women. Not only will Goldman Sachs be paying the employees it wronged, but it's also pledged to hire an independent expert to conduct an analysis on its performance evaluation processes, as well as its processes for promotions.
The Goldman Sachs Group, Inc.'s ( NYSE:GS ) dividend will be increasing from last year's payment of the same period to...
Below, we share with you three top-ranked Goldman Sachs mutual funds. Each has earned a Zacks Mutual Fund Rank #1.
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Smart Beta ETF report for GSSC
Sara Naison-Tarajano, Goldman Sachs Global Head of Private Wealth Management Capital Markets, joins Yahoo Finance Live to discuss where Goldman Sachs family offices are investing according to a survey, cryptocurrency investments, and the company's outlook based on investment trends.