03:59 PM EDT, 08/30/2024 (MT Newswires) -- Goldman Sachs ( GS ) is set to lay off between 3% to 4% of its global workforce following its yearly performance reviews, with more than 1,300 employees likely losing their jobs as the investment bank pares and replaces its low-performance workers, The Wall Street Journal reported Friday, citing people familiar with the matter.

The employee reviews and the resulting job cuts - a process that Goldman calls "strategic resource assessments" - have already started and are expected to continue through the fall, one of the sources told the newspaper.

Job losses are expected in all of the company's divisions, although some units will experience deeper layoffs than others, the sources said. Goldman Sachs ( GS ) did not immediately respond to a request from MT Newswires on Friday seeking comment.

(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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