Goldman Sachs Group Inc. GS is bracing for a third round of job cuts in less than a year. This round will affect managing directors and other senior executives, according to a report in the Wall Street Journal on Tuesday. The layoffs would cut fewer than 250 jobs and could come in a few weeks, the report said, citing people familiar with the matter. The latest workforce reduction — largely the result of a soft deal-making environment — comes after Goldman cut a few hundred employees in September and then slashed about 3,200 positions, or 6% of employees, in January. The financial giant had about 45,000 employees in the first quarter.
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