Goldman Sachs CEO David Solomon warns mass layoffs just weeks away

Goldman Sachs bankers should enjoy popping the Champagne on New Year’s Eve — because the party will be over for many of them in 2023.

“We are conducting a careful review and while discussions are still ongoing, we anticipate our headcount reduction will take place in the first half of January,” Solomon said in a voice memo Wednesday. “There are a variety of factors impacting the business landscape, including tightening monetary conditions that are slowing down economic activity,” Solomon said. “We need to proceed with caution and manage our resources wisely.”Some bankers say they will consider resigning if they’re unhappy with their bonus.Earlier this month Semafor reported the investment banking giant will lay off 4,000 “low performing” staff — roughly 8% of its workforce.

The year-end memo comes as profits at major banks slump and the top brass at those firms look to downsize their workforce amid a slowing economy. In September, Goldman chopped roughly 1% to 5% of underperforms.

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Cant say Im sad to hear it

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Goldman Sachs CEO expects layoffs in first half of January: reportEarlier this month, there were reports that the banking giant was planning to lay off about 8% of its workforce, or nearly 4,000 employees. Will he serenade them out the office with hype beats? 👽😎🥁💻 That’s what they do. They try to scare us into a recession because that’s when the rich get richer. Why did the SEC sue Ripple. Connect the dots. Dec 7/2017: 15 senior JPM execs at Ripple office Jan 2018 Ripple created xrp escrow. June 14/2018 Hinman ETH free pass speech. Aug 2018 Gary says this in his MIT BLOCKCHAIN & MONEY class 👇👇👇
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