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Laying Off Employees Has Been Good For Goldman Sachs

Thanks to everyone who chipped in by cleaning out their desks.
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Good, though not as good as they could be, thanks to those pesky severance packages Lloyd and Gar have had to dole out. But, beggars/choosers/etc.

Like other banks, Goldman has responded to the tough environment by cutting costs. Goldman has been eliminating jobs -- about 2,000 this year. Tuesday, it detailed about $700 million of annual savings from those reductions going forward. Severance costs associated with those cuts reduce the savings in 2016 by about half.

Goldman Sachs Lays Out Cost Cuts As Revenue Slips [WSJ]

Earlier: Layoffs Watch ’16: Goldman Sachs Tells Investment Bankers To Clean Out Their Desks; Layoffs Watch ’16: Goldman Sachs Traders And Salesman Got An Extra-Long Holiday Weekend; Layoffs Watch ’16: Goldman Sachs Is Spreading Out Its Tough Goodbyes This Fall


Goldman Sachs Ditching Travel Expenses, Employees In Cost-Cutting Push

Don't like it? Cry Lloyd Blankfein a river. Oh, and there's more where that came from.

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.

Sad about it. Getty Images.

Layoffs Watch '16: Goldman Sachs

The House of Lloyd has bid a buncha employees adieu.

Getty Images

Layoffs Watch '16: Goldman Sachs Is Spreading Out Its Tough Goodbyes This Fall

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.