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HomeMarketStocksGoldman warns of bonus cuts for traders: Report

Goldman warns of bonus cuts for traders: Report

Goldman Sachs Group Inc plans to chop the year-end bonuses for its merchants, Bloomberg News reported on Friday, because the Wall Road big appears to be like to trim prices.

Executives on the funding financial institution’s international markets division have been knowledgeable that the compensation pool could be slashed by a low double-digit share, the report mentioned, citing individuals with information of the discussions.

Goldman Sachs didn’t instantly reply to a Reuters request for remark.

Funding banks have been hit by a plunge in dealmaking exercise this yr as uneven markets and aggressive price hikes by the Federal Reserve have pressured lenders to drag again from financing giant offers.

Earlier this yr, Goldman Sachs had introduced a restructuring and scaled again ambitions for its loss-making consumer unit.

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