Goldman Sachs Prepares Biggest Layoffs Since 2008 Financial Crisis

Goldman Sachs Group will start cutting thousands of jobs across the firm from Wednesday, two sources familiar with the move said, as it prepares for a tough economic environment.

Just over 3,000 employees will be let go, one of the sources said, but the final number is yet to be determined. That scale of layoffs would be the largest since the 2008 financial crisis, one of the sources said.

The sources could not be named as the information was not yet disclosed publicly. Goldman Sachs declined to comment.

Bloomberg News reported on Sunday that Goldman would eliminate about 3,200 positions.- READ MORE