According to sources, Goldman Sachs will cut more than 1,300 jobs

Goldman Sachs plans to cut more than 1,300 jobs worldwide as part of an annual review process to weed out underperforming employees, sources have revealed. The cuts represent 3% -4% of the workforce. Given that Goldman had a total workforce of about 45,300 at the end of last year, this will affect about 1,300-1,800 people. The cuts have already begun and will continue throughout the fall, sources said. Goldman Sachs uses a number of variables to measure performance during its annual layoffs, and an increasingly important factor is office attendance. During the pandemic and its aftermath, Goldman and its peers relaxed requirements for employees to work outside the firm, but banks have begun cracking down on employees who don't show up at the firm as often.