Goldman cuts M&A jobs as business slows: sources

Yet while the rest of Wall Street is slashing jobs -- more than 60,000 since the credit crunch took hold -- Goldman has insisted it will increase global head count this year at a low single-digit rate.

Job cuts in mature markets like the United States, executives have said, will be more then offset by aggressive hiring in fast growing regions such as Asia and businesses such as distressed-debt investing

Gustavo Dolfino, president of recruiting firm WhiteRock Group, said the extent of Goldman's cuts are not all that material though they still send an important signal.

"What matters is not the number of cuts: It's the trend. Goldman's catching up with the rest of the industry."

(Editing by Brian Moss)