"I don't want to sugarcoat things, we underperformed during the quarter," says Goldman (GS...

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

"I don't want to sugarcoat things, we underperformed during the quarter," says Goldman (GS -1.2%) CFO Viniar on the earnings conference call. "Maybe we made a bad decision in taking too little risk in Q1." He expects headcount cuts of around 1K globally. Shares are well off their lows of the session.