Jefferies Profit Falls After Slump in Investment Banking

The video discusses the challenges faced by the banking sector, particularly in investment banking, due to a slump in deal-making activities. It highlights a significant drop in earnings, using Jeffrey's as a bellwether for the industry. The video also covers Goldman's strategic changes, including job cuts and restructuring, as a response to the ongoing challenges in the sector.

What does the term 'bellwether' refer to in the context of banking earnings?

What is the significance of the job cuts at Goldman Sachs?