The Goldman Sachs Group, Inc. Cuts Staff In Annual Review Process-Reuters

Reuters reported that The Goldman Sachs Group, Inc. has begun a new round of staff cuts in its trading and investment banking divisions, three sources familiar with the matter said, a sign of continued cutbacks on Wall Street. The job cuts follow 2,400 positions Goldman eliminated last year, and further reductions are possible as the company continues to reduce costs to raise profitability. The new job cuts are taking place in all of Goldman's four main divisions, including sales and trading, investment banking, wealth management and investing and lending, according to one source familiar with the matter.