ttp://www.bloomberg.com/news/2012-08-15/goldman-sachs-said-to-cut-more-than-20-in-sales-trading.html
Good morning AG have you read this?
Goldman Sachs Group Inc. (GS), the Wall Street bank that generated 58 percent of first-half revenue from sales and trading, eliminated 20 to 30 jobs in that division this week, according to a person briefed on the matter.
The cuts affected salespeople and traders in the U.S., with most taking place in New York, said the person, who asked not to be identified because the reductions aren’t being announced publicly. The decision is part of a continuous review of staffing levels amid difficult markets, the person said.
Goldman Sachs, the fifth-biggest U.S. bank by assets, said last month that it plans to eliminate $500 million from annual expenses, mostly from compensation, after reporting its lowest first-half revenue since 2005. The cuts are on top of a $1.4 billion expense-reduction program that was completed earlier this year. Goldman Sachs employed 32,300 people at the end of June, according to a company press release.
You can't turn off the electricity but you can reduce head count and electrical costs.
Be careful with wages folks for to much can become to little and Wall Street occupies Parks |
