Goldman Plans Third Round of Job Cuts in a Year

The video discusses the ongoing job cuts at Goldman Sachs, with a focus on the recent and potential future reductions affecting senior roles due to a deal-making slump. This issue is not isolated to Goldman Sachs but is a broader phenomenon affecting the banking industry, with other banks like Lazard and Citigroup also making workforce adjustments. The slump is expected to continue throughout the year, indicating more potential cuts across the sector.

What was the primary reason for the job cuts at Goldman Sachs?

• A decline in deal-making activities

• A rise in operational costs

• An increase in competition

• A change in leadership

Which other bank is planning to reduce its workforce by about 10% this year?

• Morgan Stanley

• Goldman Sachs

• Lazard

• Citigroup

What adjustment is Citigroup willing to make if the situation does not improve?

• Increase salaries

• Expand into new markets

• Make adjustments in investment banking

• Hire more employees

Until when is the economic downturn expected to last, according to the transcript?

• Next quarter

• Mid-year

• Indefinitely

• End of the year

Which sector is primarily affected by the ongoing economic challenges discussed in the transcript?

• Retail

• Technology

• Banking

• Healthcare