Goldman Cuts More Than 5% Of Fixed Income Workers; BofA To Layoff 150 Bankers And Traders

Jon Alternative Media, Blogosphere, Economy

For years, we noted that despite Goldman suffering progressively declining revenue…
… and occasional downward fluctuations in its bonus pool. one of its key “charms” for employees was that ever since the financial crisis, its total number of employees never declined. That is no longer the case.
As Bloomberg reports, Goldman plans to eliminate more than 5% of traders and salespeople in its fixed-income business, cutting deeper into those operations than an annual companywide cull that has already begun. Furthermore, according to a notice filed on the DOL’s WARN website, Goldman announced that it would terminate 43 workers, with the layoffs set to occur between May 9, and July 1.

This post was published at Zero Hedge on 03/03/2016.