Goldman Will Reduce Capital Markets Workforce By 15%

[Cdntrader]

Goldman Will Reduce Capital Markets Workforce, N.Y. Post Says

By James Kraus

March 21 (Bloomberg) -- Goldman Sachs Group Inc. plans to dismiss as much as 15 percent of its workforce in the capital markets and related support departments, the New York Post reported, citing unidentified people familiar with the matter.

The reductions are likely to come in the division that includes investment banking, debt and equity underwriting and merger advice, the newspaper said. Employees were first notified about the staff cuts on Monday, the Post reported.

Goldman Sachs London-based spokesman Paul Kafka had no comment to make on the report, when contacted by Bloomberg News today.

To contact the reporter on this story: James Kraus in New York at jkraus2@bloomberg.net.

Last Updated: March 21, 2008 05:31 EDT

 

[Cdntrader]

S&P puts negative outlook on Goldman, Lehman

By John Spence
Last update: 11:22 a.m. EDT March 21, 2008Print RSS Disable Live Quotes

BOSTON (MarketWatch) -- Standard & Poor's Ratings Services on Friday affirmed its ratings on Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. , but revised its outlook on the Wall Street firms to negative from stable. S&P expects net revenue could decline between 20% and 30% this year after write-downs. "The favorable effect of the Federal Reserve's unprecedented support for the U.S. broker-dealers mitigates liquidity concerns by instilling confidence in the capital markets," said S&P credit analyst Scott Sprinzen in a statement. "Nevertheless, we believe that negative rating outlooks are broadly appropriate for the independent securities firms, reflecting the potential for a more substantial decline in profitability from capital market activities."

 

[axehawk]

here is the link


http://www.reuters.com/article/businessNews/idUSN2146670420080321?feedType=RSS&feedName=businessNews

 

[ASusilovic]

Quote from Cdntrader:

Goldman Will Reduce Capital Markets Workforce, N.Y. Post Says

By James Kraus

March 21 (Bloomberg) -- Goldman Sachs Group Inc. plans to dismiss as much as 15 percent of its workforce in the capital markets and related support departments, the New York Post reported, citing unidentified people familiar with the matter.

The reductions are likely to come in the division that includes investment banking, debt and equity underwriting and merger advice, the newspaper said. Employees were first notified about the staff cuts on Monday, the Post reported.

Goldman Sachs London-based spokesman Paul Kafka had no comment to make on the report, when contacted by Bloomberg News today.

To contact the reporter on this story: James Kraus in New York at jkraus2@bloomberg.net.

Last Updated: March 21, 2008 05:31 EDT

Never good news...