Reported 1 day ago
As economic uncertainties rise, major Wall Street firms like Morgan Stanley, Goldman Sachs, and Bank of America are initiating workforce reductions, with Morgan Stanley planning to cut around 2,000 jobs. These layoffs coincide with the typical annual review period when banks often evaluate their staff and performance. Goldman Sachs is expected to reduce 3% to 5% of its workforce, focusing on underperformers, while Bank of America has already trimmed 150 junior investment bankers. Other banks, including Citigroup and JPMorgan Chase, may also follow suit in the coming months.
Source: YAHOO