Goldman Sachs will start massive layoffs

One of the US largest investment banking firms is planning to lay off up to 10% of the employees in its department, specialized in operations for currencies, bonds and commodities. Such strict measures were caused by the 5% reduction in Goldman Sachs’s income and new regulatory conditions for banks capitals. According to the bank, no more than 250 people will be laid off. Another move of the bank’s new policy was the 10% cut of employees’ bonuses.

The negative sentiment has immediately influenced the value of Goldman Sachs shares, which dropped by 4.06%. Traders have a good chance to earn money on a further decline. Remember, that trading will be available during the American session, from 13:40 to 20:00 GMT time.

The news is only for informational purposes and cannot be construed as an offer or indication of the commission of certain transactions in the financial and commodity markets.