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Layoffs Watch '16: Goldman Sachs

The House of Lloyd is making cuts.
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The bank will be giving the heave-ho to more than twice as many as it originally expected, and while that number is still pretty small in the grand scheme of things, this is Goldman Sachs we're talking about, where every special employee counts for like, at least 10 people at BofA.

Goldman Sachs Group Inc. told New York state regulators it’s expanding a plan to cut employees this year, potentially dismissing 109 workers. The firm amended a February “warn notice” filed with the Department of Labor, increasing the number of affected employees from 43. The revised filing, posted on Thursday, also extended the time frame for dismissals, saying they’ll occur between May 9 and Dec. 31. The bank previously said they will be concluded by July 1. Neither filing indicates what kind of personnel will be cut. Both list the reason for the move as “economic.”

Goldman Expands Job-Cutting Plan in Filing to Include 109 People [Bloomberg]


Sad about it. Getty Images.

Layoffs Watch '16: Goldman Sachs

The House of Lloyd has bid a buncha employees adieu.

Hard on him that it is on you. (Getty Images)

Layoffs Watch '16: Goldman Sachs

According to Charlie Gasparino, the House of Lloyd is preparing big cuts.

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The cuts may start this week.

getty images

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The House of Lloyd plans to divest itself of a whole buncha investment bankers.

Getty Images

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Some little Lloyds won't make it past Labor Day, while others will get to celebrate one last Halloween/National Salami Day/Election Day/Boxing Day at the bank.

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The cuts are on top of Goldman's annual axing of the 5% of employees giving the bank a bad name.