Job Losses At Goldman ?

Wall Street investment banking giant Goldman Sachs is widely expected to announce job cuts in the near future.

The only major securities house that managed to keep headcount flat in a troubled 2001, it is now predicted that 10% of the bank's 22,000 worldwide jobs will go as the organisation faces the reality that there is unlikely to be a major improvement in revenues this year.

It is widely believed that investment banks are still carrying excess staff in the hope of a market upturn in Q3. As this optimism is begining to look misplaced, expect further Wall St and City job losses in the near future.