Goldman trims commodities trading further: Reuters

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

Once one of its largest and most active units, Goldman Sachs's (GS -2.1%) commodities trading unit is being trimmed further, shedding 10 roles, as the business deals with increasing costs and shrinking profits, Reuters reports, citing two people familiar with the matter.

A months-long review of the commodities division showed it was using too much capital in relationship to the profit it was making, the Wall Street Journal reported in February.

Goldman isn't exiting any commodity businesses and the division will remain a large and important part of the company's securities division, a person familiar with the matter told Reuters.

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