From BusinessInsider: Mass layoffs started in Goldman's London office last week, and it sounds like they're going to continue everywhere.
One source told us that Goldman Sachs plans to lay off up to 20% of its employees in investment banking and securities.
Another source says 20% seems high. However there's no question that the original number of layoffs (1,000 globally) that Goldman had planned has been revisited and revised by a lot.
Read more: http://www.businessinsider.com/goldman-sachs-is-laying-off-20-in-securities-and-investment-banking-2011-10#ixzz1b3Vu2agN
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