More on Goldman Sachs (GS) (previous): Lloyd Blankfein tells an audience the firm is...

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

More on Goldman Sachs (GS) (previous): Lloyd Blankfein tells an audience the firm is increasingly focused on becoming the "low-cost" provider for the industry. With technology nearly eliminating profit margins, Goldman plans to make up for it on volume - not good news any traders who haven't already been replaced by machines. More than 20% of firm employees work outside of major financial centers, up from 10% 5 years ago.