Posted on 09/13/2022 3:31:09 PM PDT by RomanSoldier19
The cuts at the financial investment firm could begin as early as next week and impact employees across the company, according to sources.
Goldman Sachs declined to comment, but had mentioned reduced profits in an earning report in July.
"We have made the decision to slow hiring velocity," the company's chief financial officer, Denis Coleman, had said at the time.
The investment bank had warned it might have to cut expenses as the economic outlook worsens.
It reported a 48% slump in its second quarter profit as its clients face inflation, rising interest rates, the Coronavirus pandemic and war in Ukraine. Its investment banking division generated revenues of $2.1 billion, down 41% compared to a year ago.
(Excerpt) Read more at msn.com ...
This also Trump’s fault.
In corporate speak that implies a negative value on the velocity.
Aww.
Democrats one and all. They voted en masse for the Alzheimer’s patient. Let them stew in their own juices.
But, but, but Biden says everything is fine.
Can’t say I lose any tears to a company that made money betting against the mortgages they also held.
Parasites.
1-5% is hardly “massive”, esp. since the article sez G.S. usually lays off that many every year anyway ...
Hate to say it folks...but I told you two years ago that if Democrat, Joe Biden ever became POTUS...he would be in the pocket of the Chinese Communists, 100%, through his drug addict, woman abuser, criminal, son, Hunter!!! Biden, IMHO...is a 100% ZERO....with a capital “Z”!!! I just guess you did not listen or did not care. Your America is dying right before your very eyes!!! Well, you chose your own bed to lay in...NOW....Enjoy it as it fails!!!
Make sure you post the articles when they start jumping off their new headquarters in Florida.
Hopefully with videos - I’ll put them on loop and laugh.
That’s the word I was looking for. Investment banks are essentially parasites. The business of money and markets does not ACTUALLY create wealth for the nation. They are making money on paper bets and while it pays their paychecks it does nothing for the United States. I will go further and this makes me sound like a commie but boards of directors are in many ways parasites as well. Their wages come out of the profits that would otherwise go to the shareholder. A lot of companies, let’s say KRAFT can run on cruise control. Just don’t do anything stupid and keep making peanut butter.
They also lost over 2 bil in their investment banker division alone. Profits were off 48%.
Does that happen every year too?
“Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out!”
-President Andrew Jackson
It’ll be a hop, skip and a jump to terminations.
Couldn’t happen to a better bunch of crooks.
They also lost over 2 bil in their investment banker division alone. Profits were off 48%.
Does that happen every year too?>>>. If Neutron Jack was in charge he would basically lay off 48%.
The greed monsters may soon be jumping out of skyscraper windows.
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