Goldman Sachs plans to cut bonuses for senior employees – report

A view of the Goldman Sachs global headquarters in Manhattan, New York

(Reuters) – Goldman Sachs Group’s bonus pool for senior employees is expected to shrink by as much as half, news platform Semafor reported on Thursday, citing people familiar with the matter.

The bank did not immediately respond to a Reuters request for comment.

The dealmaking boom on Wall Street has taken a hit from high interest rates and soaring inflation.

Fees for advising companies on mergers and acquisitions, a key driver of revenue at the big U.S. banks, plunged this year from record highs last year.

Bloomberg News reported last week that Goldman plans to cut year-end bonuses for its traders.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shounak Dasgupta)

Ad: Save every day with Amazon Deals: Check out today's daily deals on Amazon.

Related posts

Spirit Christmas expands New Jersey holiday pop-ups with new 2025 locations including Toms River

Flight attendant age discrimination suit moves forward in New Jersey court against United Airlines

Judge tosses inmate’s civil rights suit against Gov. Murphy over confinement claims