Goldman Sachs is preparing to cut its workforce, targeting vice presidents in an effort to improve efficiency. The firm’s CEO, David Solomon, has told senior executives that excessive hiring of vice presidents in recent years led to the decision. This move aims to enhance the firm’s operational performance, a priority for Solomon.
Source: https://www.wsj.com/finance/goldman-sachs-to-target-vice-presidents-in-next-round-of-cuts-9f435590