More Wall Street layoffs at Goldman Sachs
Goldman Sachs Group Inc. has started doling out the pink slips to investment bankers due to the crawling markets and merger slump, according to Reuters.
The report says hundreds of support staff and junior-level bankers were let go, and around 25% of employees at the vice president level. Wall Street has laid off more than 60,000 since the credit crunch began. Lehman Brothers Inc. and Bear Stearns Cos. laid off a large number of employees due to the ailing markets -- and in Bear's case due to a merger with J.P. Morgan Chase & Co.
So far there have been 4,000 dismissals at Morgan Stanley, 5,000 at Merrill Lynch & Co., 7,000 at UBS and 16,000 at Citigroup Inc., according to New York Magazine. - Maria Woehr
The report says hundreds of support staff and junior-level bankers were let go, and around 25% of employees at the vice president level. Wall Street has laid off more than 60,000 since the credit crunch began. Lehman Brothers Inc. and Bear Stearns Cos. laid off a large number of employees due to the ailing markets -- and in Bear's case due to a merger with J.P. Morgan Chase & Co.
So far there have been 4,000 dismissals at Morgan Stanley, 5,000 at Merrill Lynch & Co., 7,000 at UBS and 16,000 at Citigroup Inc., according to New York Magazine. - Maria Woehr
Labels: Bear Stearns, Citigroup, Goldman Sachs, JPMorganChase, layoffs, Lehman, Merrill Lynch, UBS
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