Goldman Sachs is preparing to cut a few hundred employees as part of an annual review process that targets staffers who are deemed underperformers, according to a person familiar with the matter.
The cuts, which are expected across the bank, could start in the next few weeks. They are anticipated to take a few months to complete, according to the person who has been briefed on Goldman’s plans.
Goldman had 44,400 employees worldwide at the end of June. The annual performance reviews, which tend to happen in the fall, can result in the Wall Street bank dismissing hundreds of staffers or even a few thousand.
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