NEW YORK: Goldman Sachs Group Inc cut investment banking jobs in the past few weeks, joining securities firms that are adjusting to a slowdown in deal activity, according to people familiar with the matter.
The bank eliminated dozens of managing directors, executive directors and vice presidents across the mergers and debt and equity capital markets teams, the people said. The cuts affected bankers in cities including London, New York and Hong Kong, and are in addition to the bank’s annual 5 percent cull of employees deemed underperformers, the people said.
