* Goldman to lay off 230 employees in New York
* Cuts will come during fourth and first quarters
* Bank cites economic conditions in govt filing
NEW YORK, June 29 Goldman Sachs Group Inc
(GS.N) plans to lay off 230 employees in New York because of
economic conditions, according to a state filing on Wednesday.
The layoffs will take place during the fourth quarter of
2011 and first quarter of 2012, the filing said.
Companies based in New York that have at least 50 employees
are required to notify the state Department of Labor if they
plan to reduce the local workforce by a significant number.
They must file "WARN notices" 90 days ahead of the planned
Goldman and other large Wall Street banks have started
reducing their workforces to cut costs amid the slowdown in
economic and market activity. Several large Wall Street banks
have begun laying off employees due to weak trading volumes and
regulations that limit their ability to engage in certain
activities, such as proprietary trading.
Goldman's New York layoffs represent less than 1 percent of
its 35,700 employees as of Dec. 31. Goldman is still hiring
employees in growth markets like China, India and Brazil,
President Gary Cohn said at a conference earlier this month.
(Reporting by Lauren Tara LaCapra, editing by Bernard Orr)