Goldman Sachs to Cut Jobs Next Month

Goldman Sachs is planning significant job cuts, potentially affecting up to 8% of its workforce, as announced by CEO David Solomon. The decision is driven by pressures on expenses and a need to meet investor expectations. Despite previous pledges to avoid cuts during the pandemic, the bank's workforce has grown significantly, prompting a strategic realignment. The upcoming job cuts are part of a broader effort to manage costs and improve shareholder confidence, with an investor day planned to address these changes.

What percentage of its workforce is Goldman Sachs planning to cut?

• 5%

• 10%

• 12%

• 8%

How much has Goldman Sachs' workforce grown from the end of 2018 to the third quarter of 2022?

• 30%

• 34%

• 25%

• 20%

What was one of the reasons Goldman Sachs did not cut jobs during the pandemic?

• They were expanding rapidly

• They had a hiring freeze

• They pledged not to cut jobs

• They were unaffected by the pandemic

When did Goldman Sachs hold its first Investor Day?

• 2021

• 2020

• 2019

• 2018

What is Goldman Sachs aiming to achieve with its strategic plans?

• Focus solely on cost-cutting

• Reduce its market share

• Differentiate itself from other banks

• Increase its workforce