Goldman Sachs to cut thousands of jobs


Facing the axe: People walk through the lobby of the Goldman Sachs headquarters in Manhattan, New York City. The global investment bank says it plans on cutting up to 8% of its employees as world economies and markets continue to struggle with inflation. — AFP

NEW YORK: Goldman Sachs Group will begin laying off thousands of employees tomorrow, according to two sources familiar with the matter, as the firm prepares for a difficult economic environment.

The job cuts are expected to be just over 3,000, one of the sources said, but the final number is yet to be determined.

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