Goldman Sachs Group Inc. is preparing to reduce its head count by up to 8% by January, according to a source familiar with the investment bank. Based on Goldman’s disclosed employee count of 49,100 as Sept. 30, the bank will cut up to about 3,928 workers. The move came after the bank reintroduced performance reviews in 2022 after a break following the COVID-19 pandemic. The job cuts were initially reported by Semafor. Shares of Goldman Sachs are down 9.8% in 2022 compared to a 9.9% loss by the Dow Jones Industrial Average .
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