Goldman Sachs set to ax under-performing VPs in latest layoffs: sources

1. Goldman Sachs plans 3%-5% workforce cuts, affecting over 1,395 employees. New hires planned later in the year. 2. Cuts aim to enhance efficiency and address poor performance reviews. Solomon emphasizes a return to core investment banking focus. 3. Goldman’s stock surged over the past year, peaking at $672.19. Current stock closed at $581.14. 4. CEO Solomon received a 26% pay increase despite impending layoffs. Ongoing navigation of diversity policies amidst legal challenges.