Goldman Sachs Set to Cut Up to 4,000 Workers: Semafor

The video discusses recent job cuts at Goldman Sachs, amounting to 8% of its workforce, which is significantly higher than cuts at other major banks like Morgan Stanley. The discussion highlights the strategic decisions Goldman Sachs faces, such as investing in technology versus human resources, especially in challenging economic times. The video also touches on the potential impact on various business units and the broader implications for Wall Street. Insights from a recent conversation with Goldman's CEO suggest that more pruning is expected, reflecting classic Wall Street behavior of hiring in good times and cutting back before downturns.

What implications does the 8% cut at Goldman Sachs have for the broader financial industry?

How does the behavior of Wall Street firms during good and bad times reflect on their hiring practices?

What factors might influence whether Goldman Sachs focuses cuts on consumer-facing businesses or investment banking units?

Based on the conversation with leadership, what strategic decisions might Goldman Sachs face regarding investments in technology versus personnel?

Reflect on the recent conversation with the CEO of Goldman Sachs. What indications were there about future pruning and its potential impact?