Goldman Sachs is considering shrinking the bonus pool for its more than 3,000 investment bankers by at least 40 per cent this year, as chief executive David Solomon tries to control costs with deeper cuts than many of its Wall Street rivals.
The final bonus pools at Goldman are still being decided but the prospect of the deep cuts has fed fears that the bank could face high staff turnover in the new year, according to people familiar with the matter.
“I think we’re going to be worse than the Street,” one senior Goldman banker said.
Source: Goldman Sachs weighs bonus cut of at least 40% at investment bank | Financial Times
