Goldman Sachs Revamps Approach to Low Performer Cuts

Goldman Sachs will cut jobs next month. This is happening in the USA. The bank will not do one big round of layoffs. Instead, it will make several smaller cuts over time.

Goldman Sachs usually cuts jobs in spring and autumn. Last year, it removed about 2,300 positions. This time, the bank will not hold its usual spring review. Instead, it will decide on layoffs in smaller groups. The first job cuts will start in April and last through the summer. This plan gives managers more control over when to let people go.

The job cuts will affect all parts of the bank. However, the number of layoffs is expected to be less than before. Final details on names and numbers are not yet available.

A bank spokesperson said regular job cuts are standard for public companies. They look at performance and talent in all areas. Other big companies, like Citi and Amazon, have also announced job cuts this year.

How much do you know?

When will Goldman Sachs start making job cuts?

Next month

This spring

In the autumn

Last year

How many positions did Goldman Sachs remove last year?

1,000

2,300

5,000

3,000

What is the expected outcome of the new job cut plan?

More layoffs than before

Fewer layoffs

Job cuts only in spring

No job cuts at all

Which season does Goldman Sachs typically cut jobs?

Winter

Spring and autumn

Summer

Any time of year

What has changed about the job cut process this year?

One big round of layoffs

Smaller cuts over time

No job cuts at all

Immediate layoffs

Which other companies have also announced job cuts this year?

Citi and Amazon

Goldman Sachs and Wells Fargo

Chase and Bank of America

None

Goldman Sachs will conduct one big round of layoffs.

True False

The job cuts at Goldman Sachs will affect all parts of the bank.

True False

Final details on names and numbers of layoffs are currently available.

True False

Goldman Sachs has previously cut jobs only once a year.

True False

Goldman Sachs usually cuts jobs during spring and summer.

True False

The spokesperson mentioned that regular job cuts are standard for public companies.

True False

Goldman Sachs will cut jobs month.

Last year, Goldman Sachs removed about positions.

The bank will not hold its usual spring this time.

Job cuts this year are expected to be than before.

Regular job cuts are for public companies.

Other big companies, like Citi and , have also announced job cuts this year.

This question is required