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Goldman Stance on Layoffs
April 17, 2012
[ by Melanie Gretchen ]
Goldman Sachs is seeking alternatives to layoffs, citing "other means for efficiency," justifying its pay cuts [Goldman Pay Down for 2012, WHO'S NEWS, 4/17/12]. After cost-cutting that saw the loss of 2,400 job cuts, Goldman may be putting its chopping block to rest, as far as large layoffs are concerned.
Going forward, CFO David Viniar said the firm has "largely implemented our announced expense reductions" and is "relatively well-positioned, assuming the environment stays where it is." On a conference call with analysts to discuss first-quarter earnings, he said, "We’re going to look for other means for efficiency. I wouldn’t expect anything major to change from where we are."
For further details, go to [Dealbreaker, 4/17/12].
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