So is that it for Goldman redundancies?

14 April 2009

1 minute read

During today's GS conference call, CFO David Viniar said the bank is now "sized appropriately for where the business is."

Unless something very nasty happens, this seems to imply that layoffs at Goldman are now passé.

If so, Goldman bankers have had it easy. At 27,898, headcount at Goldman is down only 12.4% from its Q108 peak. It's also up 24% on 2005.

Compare that to the 30% of jobs ML and BofA are said to be cutting in London, and Goldman bankers look even more fortunate.

In the unlikely event that there are more cuts to come, maybe they'll in equities, where Viniar said volumes are "massively off" in Europe, or in M&A where he's not predicting a recovery anytime soon. More promisingly, ECM activity has apparently picked up considerably in the past week.

AUTHORSarah Butcher

Global Editor

jc
jc
14 April 2009
You guys need a life. Watch football as you seem u have weird tendencies! GS is the bomb and all suckers who say otherwise are jealous.
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Ob
Observer
14 April 2009
Doudou, do you mean to refer to Goldman routinely chopping the bottom 10% of its staff every year anyway.
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Do
Doudou
14 April 2009
Well, it is not surprising that GS is letting less people go. It does not hire shed loads in a good year either. I heard it tries to keep lean.
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Th
The Artist Formerly Known as P
14 April 2009
grow up mind hacker, some of us are trying to have a reasoned intellectual debate here
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Mr
Mr mind hacker
14 April 2009
Is Pythagoras head the person who leaves questions about mind control monitors on the homepage?
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