According to a WSJ report Goldman Sachs Group Inc.'s profit
shrank 11% in the second quarter, and the securities firm launched a new wave
of cost cutting to offset chronically weak returns from trading and investment
banking.
David A. Viniar, Goldman's chief financial officer, said the
latest round of belt-tightening by the New York company might include job
losses for "a couple of hundred people." By year end, Goldman will
reduce total expenses by $500 million on top of about $1.4 billion in cuts
since last spring.
As of June 30, Goldman had 32,300 employees, down 9% from a
year earlier and a 17% decline ...
How far have the mighty fallen? Read all about it at http://online.wsj.com/article/SB10001424052702303933704577532470844199962.html?mod=WSJ_hp_LEFTWhatsNewsCollection
No comments:
Post a Comment