[1/2] A view of the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021.
The latest round of penny-pinching comes as Goldman Sachs management grew more pessimistic about an economic recovery and dealmaking this year.
Goldman Sachs investment banking revenue is down 52% in that same period, the Dealogic data showed.
Goldman Sachs trades at 0.97 times its book value, lagging rivals Morgan Stanley and JPMorgan Chase & Co (JPM.N) which trade at 1.45 times and 1.33 times, respectively, according to Refintiv data.
Reuters GraphicsThe headcount reductions and cost cutting do not solve Goldman's fundamental challenges: its reliance on investment banking and trading.
Persons:
Goldman Sachs, Andrew Kelly NEW, Goldman, David Solomon, John Waldron, Morgan Stanley, pare, Brennan Hawken, Waldron, Saeed Azhar, Lananh Nguyen, Tatiana Bautzer, Andrea Januta, Anna Driver
Organizations:
REUTERS, Andrew Kelly NEW YORK, Goldman Sachs, Investment, Lazard Ltd, Citigroup Inc, JPMorgan Chase &, Reuters, Thomson
Locations:
Manhattan , New York, U.S, New York, Bengaluru