Seeking Alpha

Report: More job cuts on the table at Goldman

  • At issue is the continuing sharp decline in FICC activity (especially fixed income) - noted by a number of banking industry executives at investor conferences this week.
  • "What drives activity in our business is volatility,” said Goldman Sachs (GS -0.6%) COO Gary Cohn yesterday. “If markets never move or don’t move, our clients really don’t need to transact... We’re not just waiting for things to get better.”
  • Previously: Goldman's Cohn: "Abnormal" lack of action in markets
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