Goldman Sachs plans to cut hundreds more jobs: Report

Goldman Sachs Group Inc aims to cut at least a few hundred more jobs, Bloomberg Law reported on Monday, citing people familiar with the matter.

The bank is drafting plans that could eliminate at least 400 positions from its loss-making retail banking operations, according to the report.

Goldman Sachs did not immediately respond to a Reuters request for comment.

Global banks, including Morgan Stanley and Citigroup Inc, have reduced their workforce in recent months as a dealmaking boom on Wall Street has fizzled out due to high interest rates and soaring inflation.

Reuters reported in September that Goldman Sachs planned to cut jobs after pausing the annual practice for two years during the pandemic.