January 12, 2023

Goldman Sachs exec addresses massive job cuts at Wall Street powerhouse: 'Complete faith' in firm's decision

Goldman Sachs head of personal finance management Joe Duran provides his 2023 market outlook and discusses the firm’s ‘tough decision’ to cut 3,200 jobs on ‘Varney & Co.

Goldman Sachs head of personal finance management Joe Duran discussed the layoff of 3,200 employees, telling “Varney & Co.” everything the Wall Street firm does is about what’s best for clients and employees.

JOE DURAN: We’ve been around for 150 years. I can comment on that. I can say as a partner of the firm, I have complete faith that everything we do, we’ve been through sunshine and rain and everything we do is about what’s best for our clients, what’s best for everyone we work with, including our employees.

CONCERNS OVER A ‘WHITE COLLAR RECESSION’ GROW AS GOLDMAN SACHS, MORGAN STANLEY, AMAZON AND OTHERS CUT JOBS

Goldman Sachs

Goldman Sachs cuts 6.5% of the workforce. (Reuters Photos)

These are tough decisions. I’m not in the room when they’re made, but I can tell you that we as partners support the decisions that are being made by the executive office.

Ziprecruiter chief economist Julia Pollak and Employbridge chief workforce analyst Joanie Bily discuss tech company layoffs as worldwide recession looms on ‘Fox Business Tonight.’

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