Goldman Sachs To Lay Off 125 Managing Directors Globally: Report

Goldman Sachs Group has decided to cut jobs at the managing director level across the globe, reported Bloomberg. 

The move has been taken into consideration as the company faced a deal slump, the report added. 

Reportedly, the company has decided to lay off 125 managing directors, including some in investment banking sector. 

Goldman Sachs Group has started cutting managing directors across the globe as the firm reduces its headcount amid a deals slump, according to people familiar with the matter.

The moves are part of a deep cost-savings drive at the bank, which has seen at least three rounds of job cuts in less than a year. 

“About 125 managing directors, including some in investment banking, will lose their jobs,” a person was quoted as saying.

The decision has been taken keeping the “cost-savings drive” at the bank in mind. In the last year, the bank has faced “three rounds” of job cuts, the report stated.

Meanwhile, there is no official word from Goldman Sachs.