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according to cctv news on september 2, goldman sachs plans to lay off 3% to 4% of its global workforce in the coming weeks, and this round of layoffs is expected to involve all departments. as of the end of june this year, goldman sachs had about 44,400 employees worldwide, which means that the number of layoffs will reach 1,300 to 1,800.

separately, a person familiar with the matter revealed on august 30 that wall street investment bank goldman sachs plans to lay off hundreds of employees as part of its annual evaluation process for underperforming employees.

a goldman sachs spokesperson said: "our annual talent review is normal, standard and customary. we expect goldman sachs' headcount in 2024 to exceed that in 2023."

it is a typical practice for goldman sachs to lay off low-performing employees every year in order to control costs and make room for new talent. in the past, this measure was interrupted for two years due to the epidemic, and goldman sachs only resumed this practice in 2022.

typically, goldman sachs cuts 2% to 7% of its total workforce each year based on various performance factors, with the specific layoff ratio fluctuating based on market conditions and the company's financial outlook. last year, goldman sachs reportedly laid off close to the lower end of the usual 1%-5% range. in fact, goldman sachs conducted multiple rounds of layoffs in 2023 as higher long-term interest rates put pressure on the macroeconomic outlook, affecting trading.

from the perspective of the global financial industry, since 2023, many large financial institutions around the world have announced layoffs due to profit pressure due to fluctuations in the capital market and rapid rise in interest rates.

the report of the six major wall street banks shows that in 2023, except for jpmorgan chase, bank of america, wells fargo, citigroup, goldman sachs and morgan stanley will all lay off employees. among them, wells fargo's global employee headcount will decrease by 12,000, citigroup and morgan stanley will lay off 5,000 and 4,800 respectively, bank of america and goldman sachs will lay off 4,000 and 3,200 respectively. overall, the number of layoffs of major wall street banks in 2023 is close to 30,000.

it is worth noting that some major wall street banks will continue to expand layoffs in the future. according to a recent media report quoted by daily economic news, citigroup plans to cut about 20,000 jobs, or 10% of the group's employees, by the end of 2026. by the end of 2023, the group's total number of employees will reach 200,000. deutsche bank also announced plans to lay off 3,500 non-client-facing employees by 2025, a plan that already includes more than 800 positions cut last year.

however, in 2024, goldman sachs' latest revenue and profit performance are better than expected. according to the second quarter financial report of 2024 recently disclosed by goldman sachs, its net revenue in the current period was us$12.73 billion, a year-on-year increase of 17%, higher than the previous market consensus of us$12.39 billion; net profit exceeded us$3 billion, a year-on-year increase of 150%, exceeding analysts' expectations of us$2.8 billion.