Goldman Sachs trimmed staff in its US operations yesterday amid a slowdown in capital markets activity, three people familiar with the matter said.
The investment bank cut several dozen jobs at its offices in New York, New Jersey and Salt Lake City, Utah, said the people, who spoke under the condition of anonymity. Employees at all levels were affected.
The bank, which employed 32,400 people at the end of March, cut dozens of jobs earlier this month.
Wall Street is bracing for weak second-quarter earnings reports from global investment banks next month, due to weak trading volumes and a sharp drop in deal activity.
Analysts predict banks will cut more jobs this year ? perhaps another 5 percent of staff ? due to weak profits, on top of thousands of job cuts last year.
Goldman declined to comment.
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