Goldman Sachs has informed its staff to brace for another round of job cuts this year as the bank aims to achieve additional cost savings while leveraging the potential of AI.

Bloomberg reports that in a memo to employees this week, the New York-based financial giant announced its plans to “constrain headcount growth through the end of the year” and implement a “limited reduction in roles across the firm.”

The company’s total headcount stood at 48,300 at the end of September, representing an increase of approximately 1,800 employees compared to the end of the previous year. Top executives at the bank highlighted the efficiency gains that can be achieved through the use of AI technology, presenting it as a pathway to further growth. They emphasized that implementing AI solutions across

See Full Page