The Goldman Sachs Group, Inc. (GS) intends to eliminate more than 1,300 employees from its global workforce as part of its annual performance review process to cull the low performers. The bank will likely cut jobs between 3% and 4% across the bank’s various divisions.Following the release of this news, Goldman’s shares gained nearly 1%. Goldman had paused “strategic resource assessment,” or SRA during the COVID-19 pandemic. Nonetheless, the bank resumed the practice of SRA in 2022, with the workforce reduc ...

Goldman Sachs reportedly plans to lay off between 3% and 4% of its workforce — amounting to about 1,300 to 1,800 people — as part of its annual review process.The layoffs have already started, will continue through the fall and are expected to be made across the bank’s divisions, the Wall Street Journal (WSJ) reported Friday (Aug. 30), citing unnamed sources.Goldman Sachs spokesperson Tony Fratto told the WSJ, per the report: “Our annual talent reviews are normal, standard and customary, but otherwise unrem ...

David Solomon is sharpening the axe again. The Goldman Sachs CEO will slash more than 1,300 jobs as part of the bank’s ongoing review to cull poor performers, the Wall Street Journal reported on FridayGoldman’s cuts will affect between 3% and 4% of Goldman’s 45,000-strong workforce, the Journal added, citing people familiar with the matter. The cuts are part of the bank’s annual performance reviews that cull those believed to have performed poorly. Getty ImagesThe layoffs have already started and will conti ...

Goldman Sachs (GS) came out as a winner after challenging the Federal Reserve to reduce its capital requirements over its June annual stress test result, which initially forced this Wall Street investment bank to hold a higher amount of capital.Introduced in the aftermath of the 2008 financial crisis, the stress tests evaluate banks' capital adequacy, liquidity and risk management practices under adverse hypothetical scenarios, such as a deep recession or a sharp decline in asset prices. It then uses the re ...

The Goldman Sachs Group (GS) has lowered its forecast for oil prices, projecting a range of $70 to $85 per barrel for Brent crude in 2025, with an average price of $77. This adjustment reflects a growing caution in the market, driven by weaker-than-expected Chinese demand, higher U.S. shale production, and stable global inventories. As the energy sector braces for potential headwinds, Goldman’s outlook points to several key factors that could influence oil prices and the broader market in the years ahead.Wh ...

As investors worldwide are waiting for the new quarterly earnings report from the technology behemoth Nvidia (NASDAQ: NVDA), analysts from Goldman Sachs (NYSE: GS) believe the report could trigger a $300 billion swing in its market value – in either direction.Specifically, the finance experts have observed that Nvidia stocks could witness a significant $298 billion swing in market value upon publishing the earnings results on August 28, according to a recent note from Goldman Sachs’ trading desk, Business I ...

The most recent trading session ended with Goldman Sachs (GS) standing at $507.26, reflecting a -0.12% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.16%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.16%.The investment bank's shares have seen an increase of 3.07% over the last month, surpassing the Finance sector's gain of 2.12% and the S&P 500's gain of 2.97%.Investors will be eagerly watching for the perform ...

There's a solid case to be made for Goldman Sachs despite a few past missteps by the investment banking giant.Goldman Sachs (GS 0.27%) is widely known as the leading investment bank, and for good reason. In this video, longtime Fool.com contributor Dan Caplinger explains why he recently bought shares, while colleague Matt Frankel explains why he sold the stock in late 2023.*Stock prices used were the morning prices of Aug. 21, 2024. The video was published on Aug. 22, 2024. ...

Shares of The Goldman Sachs Group, Inc. (GS) — a well-known global investment bank — have witnessed a remarkable run on the bourses, with its stock skyrocketing 60.2% in a year. This meteoric rise has outpaced the S&P 500 and also left its peers — JPMorgan & Chase (JPM) and Morgan Stanley (MS) — behind.1-Year Price PerformanceImage Source: Zacks Investment ResearchThe year has been favorable for this global investment bank as capital markets are showing signs of rebound. Investment banking (IB) business see ...

The narrative around Bitcoin is evolving from a speculative asset to a strategic investment.Imagine telling someone in 2009, when Bitcoin (BTC 2.98%) was trading for just a few pennies, that one day, one of the most prolific companies on Wall Street would be buying the cryptocurrency. Well, that day has come as Goldman Sachs Group (GS -0.18%) recently disclosed a multimillion-dollar stash of Bitcoin in its quarterly filing.Bitcoin and cryptocurrencies in general have been primarily regarded as extremely spe ...