Goldman rule tweak to spur veterans to quit: report

(Reuters) - Goldman Sachs Group Inc (GS.N) will change its retirement rules in a way that will encourage some long-serving employees to leave by year-end, which may add to its existing workforce reductions, the Financial Times reported.

The policy change comes a day after sources told Reuters the bank would lay off 200 staff in London this week as part of a 10 percent cut in global headcount reported earlier.

Under the change, as of 2009 Goldman employees will have to wait longer to qualify for the firm's full retirement package, the paper said, citing the bank.

The newspaper said Goldman would change its policy of allowing employees whose age and years of service add up to 55 to collect all their restricted share options on departure.

The qualifying figure will be raised to 60, the FT added.

The policy change is aimed at bringing Goldman's retirement program closer to that of industry peers, who usually make employees work longer before they can qualify for similar packages, the paper said, citing the bank.

Goldman Sachs could not be immediately reached for comment.

More than 240,000 jobs have been lost in the financial industry since August 2007.

(Reporting by Eric Yep in Bangalore, editing by Will Waterman)