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Goldman Sachs to lay off 230 employees in New York

Reuters 06/29/2011 17:35
Goldman Sachs to lay off 230 employees in New York - USA - New York - Business - Goldman Sachs - employment


Goldman Sachs Group Inc (GS.N) plans to lay off 230 employees in New York because of economic conditions, according to a state filing on Wednesday.



The layoffs will take place during the fourth quarter of 2011 and first quarter of 2012, the filing said.

Companies based in New York that have at least 50 employees are required to notify the state Department of Labor if they plan to reduce the local workforce by a significant number. They must file "WARN notices" 90 days ahead of the planned reductions.

Goldman and other large Wall Street banks have started reducing their workforces to cut costs amid the slowdown in economic and market activity.


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