Friday, February 22, 2008

Goldman Sachs likely to cut about 1,500 jobs: report

Goldman Sachs likely to cut about 1,500 jobs: report
SAN FRANCISCO (MarketWatch) -- Goldman Sachs Group (GS:175.17, -2.08, -1.2%) will likely cut about 1,500 jobs this year, an unusually high number for the investment firm, The Wall Street Journal reported Thursday on its Web site, citing executives, former partners and executive recruiters. The newspaper reported the cuts, which began a few weeks ago and will continue through early March, are an aggressive response to mounting troubles in the firm's leveraged lending and investing portfolios. End of Story

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