Goldman Sachs is planning to start trimming staff next month, reflecting a shifting strategy this spring toward several rounds of cuts, rather than a single, larger-scale effort to oust underperformers all at once, multiple people familiar with the situation informed Business Insider.
The Wall Street bank has long been known for its annual head count reduction rituals that play out in the spring and fall, and have historically axed up to several thousand positions at once by trimming the bottom 5% of its worldwide workforce.
But this year, Goldman is skipping its usual spring “Strategic Resource Assessment,” or SRA — the internal name for a huge, one-time culling — in favor of a series of tinyer, rolling cuts, the people declared.
Read more about the cuts on Business Insider: https://lnkd.in/eghVz5yw
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