Goldman Stock Up on Its Plans to Reduce Workforce Under SRA Strategy

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 ...