Goldman Sachs Plans Second Round Of Job Cuts

(RTTNews) - Three months after laying off roughly 400 employees, Goldman Sachs Group Inc. (GS) is getting ready for another round of layoffs, according to Reuters.

As part of a larger restructuring effort, the bank announced in January that it would cut operating expenses by $1.3 billion over the next three years.

Although executives expect deeper staff reductions next year, the upcoming job cuts are anticipated to be comparable in scope to the reductions made in September.

As part of its continuous cost-optimization strategy, Goldman has also been moving positions to less expensive cities like Bengaluru, India, Dallas, and Salt Lake City.

GS is currently trading at $774.06, down $12.72 or 1.62 percent on the New york Stock Exchange.