Goldman Sachs cuts ‘modest’ number of jobs

Johannesburg – Goldman Sachs is undertaking “modest” jobs cuts, said a company spokesperson on Wednesday, joining other financial giants in trimming its number of employees.

“At the outbreak of the pandemic, the firm announced that it would suspend any job reductions,” said the spokesperson. “The firm has made a decision to move forward with a modest number of layoffs.”

According to a source familiar with the matter, just under 400 jobs will be affected, a number equal to around 1% of the company’s employees.

Well Fargo and Citigroup have also cut some staff in recent weeks, according to US media reports.

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