Goldman Sachs to lay off up to 4,000 people -Semafor By Reuters

(Reuters) -Goldman Sachs Group Inc will lay off up to 4,000 people as the Wall Street bank struggles to meet profitability targets, news platform Semafor reported on Friday, citing people familiar with the matter.

Managers across the firm have been asked to identify low performers for what could be a cut of up to 8% to its workforce early next year, the people said, with some cautioning that no final list has been drawn up, according to the report.

The bank said in September it was planning to cut jobs, after pausing the annual practice for two years during the pandemic, a source familiar with the matter told Reuters at the time.

Goldman did not immediately respond to a Reuters request for comment.