cut
http://www.chinapost.com.tw/business/company-focus/2008/11/07/182165/Goldman-Sachs.htm
Updated Friday, November 7, 2008 10:52 am TWN, AP
Goldman Sachs begins to cut 10 percent of staff
NEW YORK -- Goldman Sachs Group Inc. has begun notifying about 3,200 employees globally that they have lost their jobs, as the world’s biggest investment bank slashes expenses to ride out the financial crisis, a person familiar with the situation said Wednesday.
The job cuts, which were first reported last month, are a reflection of the ongoing downturn in the credit and lending markets that triggered massive losses for banks around the world.
Goldman Sachs had been considered the strongest investment bank on Wall Street, and earlier this year had expected its payrolls to expand.
Updated Friday, November 7, 2008 10:52 am TWN, AP
Goldman Sachs begins to cut 10 percent of staff
NEW YORK -- Goldman Sachs Group Inc. has begun notifying about 3,200 employees globally that they have lost their jobs, as the world’s biggest investment bank slashes expenses to ride out the financial crisis, a person familiar with the situation said Wednesday.
The job cuts, which were first reported last month, are a reflection of the ongoing downturn in the credit and lending markets that triggered massive losses for banks around the world.
Goldman Sachs had been considered the strongest investment bank on Wall Street, and earlier this year had expected its payrolls to expand.
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