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.
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