The Independent reports that Goldman Sachs is thought to be close to announcing a cull of up to 800 investment bankers in Europe as it continues to cut costs in the current difficult market.
Goldman staff in London and Europe are now fearful that the next round of cuts could see them most effected. The newspaper quotes an unnamed London-based corporate financier at the firm who said: 'I feel pretty sure we're in the firing line. When they batten down the hatches, London is always a nervous place'.
David Viniar, the Goldman chief financial officer, confirmed recently that the firm's staffing levels would 'continue to trend downwards'.