12:31 PM EDT, 10/14/2025 (MT Newswires) -- Goldman Sachs ( GS ) will cut some roles before the end of the year while limiting overall hiring as it looks to reduce costs and expand AI use, Bloomberg reported Tuesday, citing a company memo to staff.

A spokesperson for the bank said Goldman's total workforce will still rise by year-end despite the planned job cuts, according to the report.

Executives unveiled the launch of the bank's new "OneGS 3.0" strategy, saying AI will support in streamlining functions like onboarding, lending, and compliance, the media outlet reported.

Chief Executive David Solomon and other executives said the bank must move faster to capture AI's potential across operations, Bloomberg reported.

Goldman Sachs ( GS ) did not immediately respond to MT Newswires' request for comment.

Shares of the company were down about 1.8% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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