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  • Goldman Sachs faces massive job cuts as profits fall

    09/13/2022 3:31:09 PM PDT · by RomanSoldier19 · 21 replies
    bbc via msn ^ | 9/13/2022` | bbc
    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...