NEW YORK, March 4 (Reuters) - Goldman Sachs ( GS ) plans

to trim its staffing by 3% to 5% in an annual performance review

process this spring, said a source familiar with the matter who

declined to be identified discussing personnel matters.

That would equate to more than 1,395 job cuts from the

bank's global workforce of 46,500 at the end of December. The

last time the Wall Street firm conducted a similar review in

September, it made smaller reductions.

"This is part of our normal, annual talent management

process," a spokesman said, declining to give details.

Financial news and jobs site eFinancialCareers earlier

reported the news.

Goldman carried out multiple rounds of workforce reductions

in 2023 as dealmaking stagnated and it stepped back from a

loss-making consumer business.

The environment for banks has since improved. Goldman

reported its

biggest quarterly profit

in more than three years in January as investment bankers

brought in more deal fees and traders benefited from active

markets.

That month, CEO David Solomon was

awarded an $80 million stock bonus

to stay at the helm for another five years, a stark

turnaround for a leader whose survival was questioned after the

ill-fated retail foray.

John Waldron, Goldman's president and chief operating

officer, and who is widely seen as a successor to Solomon, was

also awarded a retention bonus of $80 million in restricted

stock and recently

joined its board of directors

.