Goldman Sachs (GS) said it is targeting the bottom 5% of performers in its workforce to lay off as part of its annual review process, CNBC reported Friday. The review targets about 1,500 of 30,000 positions. Goldman's statement came in response to a Reuters report saying the financial giant was aiming to lay off 5% of its global workforce.
Goldman told CNBC the review was entirely related to individual performance, not business conditions.
The Dow is now down 160 pts after earlier being up 110 points. A clear overreaction...
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