With layoffs sweeping corporate America, Goldman Sachs Group (NYSE: GS) is the latest financial institution to join these companies. On Monday, Bloomberg reported that the investment bank and financial services company is contemplating eliminating about 3,200 positions this week.
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However, the total number of people laid off is unlikely to be more than 3,200. More than 33% of the employees are likely to be from its core trading and banking units, the report stated.
The report also cited an unknown source as saying that GS is also likely to state financials about a new credit card and installment-lending business unit and this unit could record pre-tax losses of more than $2 billion.
Analysts are cautiously optimistic about GS stock with a Moderate Buy consensus rating based on seven Buys and four Holds.