Goldman said to mull over job cuts

To cut or not to cut ?

Fox Business reports that is the question Goldman Sachs executives are preparing to answer when the firm unveils second-quarter earnings next month, and investors will be focused on the shrinking profitability of the firm’s once-mighty traders, the FOX Business Network has learned.

Goldman is weighing whether to make a formal announcement about the size and scope of potential cuts among traders, amid a sharp decline in revenue - particularly in the fixed-income business, according to people with knowledge of the matter.

This announcement could be made during the firm’s second-quarter earnings announcement, scheduled for July 15.

FOX Business earlier reported that a sharp reduction in trading revenue has sparked a panic inside Goldman Sachs as executives there brace for additional layoffs in the firm’s trading ranks unless business conditions improve.

To access the complete Fox Business article hit the link below:

Trading Slowdown Has Goldman Mulling Further Cuts

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