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.
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