Goldman Sachs (GS) appoints 261 new managing directors, nearly 20% fewer than last year and the...

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

Goldman Sachs (GS) appoints 261 new managing directors, nearly 20% fewer than last year and the smallest class since 2008. The firm has been tightening its belt in the wake of a Q3 loss, only its second ever as a publicly traded company; it's targeting 1,000 job eliminations this year and more than $1B in cost cuts.