Wall Street powerhouse Goldman Sachs intends to lay off hundreds of employees.
Golden Sachs is one of the top international investment banking firms
For the first time since the pandemic, Goldman Sachs Group Inc. will be laying off hundreds of employees.
Every year, the Wall Street giant reduces its personnel by 1% to 5%, but it was paused since COVID-19.
The corporation may begin laying off employees as soon as next week.
By the end of June, Goldman Sachs had 47,000 employees, 15% more than the same time last year.
Consequently, 500 employees would be let go if the staff was reduced by 1%.