First Amazon announced 18,000 layoffs – Now at least 3,200 will lose their jobs at Goldman Sachs bank

Published January 9, 2023 | By NewsJive.com

Goldman Sachs and Amazon. (Youtube)

Amazon announced last week that they will have to let go of at least 18,000 employees, due to financial cutbacks caused by “the uncertain economy” and “rapid hiring” as reasons for the layoffs. Today reports said that Goldman Sachs will cut jobs by over 3,200 at minimum, according to Reuters, starting on Wednesday this week.

The job cuts at Goldman Sachs are expected to be just over 3,000, but the final number is yet to be determined, according to sources ro Reuters.

The layoffs are likely to affect most major divisions of the banks but should centre on Goldman Sachs’ investment banking division, according to sources to Bloomberg News. Institutional banks have “suffered a major slowdown” in corporate dealmaking activity as a result of “volatile global financial markets”.

Last week Amazon announced that they have plans to lay off the largest number of workers in the company’s history. In a memo to Amazon staff on Wednesday, CEO Andy Jassy said the company would eliminate 18,000 roles, with most of the layoffs coming in the company’s Amazon Stores and People Experience and Technology Solutions divisions, Yahoo reports.