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

1. Goldman Sachs announced layoffs of 1,395 employees, 3%-5% of its workforce. 2. CEO Solomon emphasizes efficiency improvements amid strategic business refocus. 3. Layoffs target under-performing employees with poor reviews or bonuses. 4. John Waldron appointed to the board as part of succession planning. 5. Goldman Sachs posted $14 billion profit, marking significant growth year-over-year.