'Goldman Sachs Is Cutting About 125 Managing Directors Globally' - Bloomberg
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs Group Inc. has begun cutting approximately 125 managing directors globally, including some in investment banking, due to a deals slump.
June 24, 2023 | 1:34 am
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NEUTRAL IMPACT
Goldman Sachs is cutting 125 managing directors worldwide, which may lead to short-term cost savings but could impact long-term deal-making capabilities.
The job cuts at Goldman Sachs may lead to short-term cost savings for the company, which could be seen as a positive by investors. However, the reduction in managing directors, including those in investment banking, could impact the firm's long-term deal-making capabilities, which may be seen as a negative. As a result, the short-term impact on the stock price is neutral.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100