Goldman Sachs to Cut Up to 3,200 Jobs

Goldman Sachs is laying off fewer employees than feared, but the cut is still a deep one.

The global investment bank is letting go of as many as 3,200 employees starting Wednesday, according to a person with knowledge of the firm’s plans.

That amounts to 6.5% of the 49,100 employees Goldman had in October, which is below the 8% reported last month as the upper end of possible cuts.

Read the source article at cnbc.com