Goldman Sachs Group Inc. has started cutting managing directors across the globe as the firm reduces its headcount amid a deals slump, according to people familiar with the matter.
About 125 managing directors, including some in investment banking, will lose their jobs, said one of the people, who asked not be identified because the cuts aren’t public. Not all of the layoffs have happened yet, the people said,
The moves are part of a deep cost-savings drive at the bank, which has seen at least three rounds of job cuts in less than a year.
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