Goldman Sachs to start staggered cuts of low performers this spring

Goldman Sachs will begin small rounds of head-count cuts starting next month, shifting this spring toward several rounds of reductions rather than a single, large cull. The first round is expected in April, with additional cuts continuing through the summer. The firm is skipping its usual spring Strategic Resource Assessment (SRA) — the one-time culling it has used in past years — in favor of rolling reductions that give business-line leaders more control over timing.

A more traditional SRA round could still occur later in the year. Reductions are set to affect all business lines, from the investment bank to its asset- and wealth-management units, but are expected to be significantly fewer than last March, when a target of up to 5% could have translated to as many as 2,300 jobs.

Final names and numbers for the upcoming rounds have yet to be finalized.

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