Goldman Sachs to cut jobs in April

Goldman Sachs will lay off a small number of underperforming employees in April, and the job cuts are separate from its annual review, which trims 1% to 3% of the bank’s workforce, Reuters reported.

The company said ongoing workforce adjustments remain standard practice, adding that it regularly evaluates performance and talent across divisions. 

The decision reflects a broader trend across corporate America, where companies are trimming staff and streamlining operations as artificial intelligence adoption accelerates.

Meanwhile, Morgan Stanley recently cut about 3% of its workforce, affecting roughly 2,500 employees, highlighting an industry-wide push to improve efficiency.