Goldman Sachs Group Inc. is set to dismiss a few hundred employees in the coming weeks as part of its annual evaluation process aimed at maintaining a competitive workforce.
This year's layoffs, totaling about 3% to 4% of the bank's workforce, align with Goldman's typical strategy to manage costs and create opportunities for new talent.
Despite the layoffs, Goldman Sachs plans to have a larger workforce by the end of 2024 compared to the previous year, indicating a commitment to growth.
The bank's stock has hit an all-time high, rising more than 32%, making Goldman Sachs the best-performing bank among the major US institutions this week.
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