Goldman Sachs (NYSE:GS) has decided against proceeding with a second round of broad performance-based job cuts from its 46,000-person workforce this year, following a better-than-expected recovery in its investment banking business, the Financial Times reported Thursday.
The decision comes as the bank has seen an increase in investment banking fees and client engagement, alongside continued strength in its trading division, according to people familiar with the matter cited by the FT.
The bank’s decision regarding the job cuts remains subject to change if economic conditions shift, the newspaper noted.
