Goldman Sachs Group, Inc. (GS.US) has launched its annual layoff plan to reduce its workforce by 3% to 5%.

Goldman Sachs Group, Inc. (GS.US) is set to launch its annual layoff plan and will move up this regular adjustment to this spring, instead of the usual second half of the year. According to sources familiar with the matter, the layoffs this time around will be between 3% and 5%, roughly in line with previous years. The focus of this round of layoffs will be on vice president positions. According to reports from unnamed sources cited by foreign media, Goldman Sachs Group, Inc. has added too many vice president positions in recent years during the overall recruitment process, and the company plans to optimize its workforce through layoffs. A spokesman for Goldman Sachs Group, Inc. responded that these layoffs are part of the company's normal annual talent management process and declined to comment further. The layoffs are scheduled for this spring, whereas in the past few years the company typically conducted layoffs in the second half of the year. According to Goldman Sachs Group, Inc.'s latest annual financial report, as of the end of 2024, the total number of employees globally was 46,500, slightly higher than the 45,300 at the end of 2023, but still lower than the 48,500 in 2022. This aligns with Goldman Sachs Group, Inc.'s consistent strategy of controlling costs and making room for new talent. The company usually conducts layoffs every year, but briefly paused this annual adjustment during the COVID-19 pandemic. The layoffs this spring are expected to help the company optimize its human resources structure to adapt to future market conditions.