Goldman Sachs fires 2000
Goldman, a bellweather for all things financial in the West and US, is laying off about 10 pct of their staff due to deteriorating financial markets and underwriting, mergers and so on. Clearly they feel things are weakening and are cutting costs. With the EU bond situation continuing to get worse, not better, why is Goldman cutting staff? They are the biggest ones out there who can do things to help stabilize the banking system. Are they seeing darkness ahead? I think we can kiss any idea of a world economic recovery goodbye this year...