Goldman Sachs’ layoff hits VPs; report says underperformers on the chopping block as firm tightens belt

Goldman Sachs CEO David Solomon, plans to cut 3% to 5% of its workforce, focusing on underperforming vice presidents. While new workers will be hired to maintain the overall headcount of the company. The cuts coincide with Solomon's strategy to refocus on core businesses and anticipate the impact of US policy changes while also navigating leadership and succession planning.