At the height of the pandemic, when seemingly everything remained up in the air, some Wall Street banks looked to offer employees comfort. Many on the Street pledged to hold off on layoffs for the remainder of the year, vowing to weather the storm together with their employees. Six months later, times have changed. Bloomberg reported Goldman Sachs will start cutting jobs again. The bank joins peers Wells Fargo, Citigroup, and JPMorgan in a return to downsizing. The news comes on the same day CNBC reported Citigroup is making cuts to its equities trading division, some of which include senior staffers. If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals. Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco. Daniel Geiger has a great profile on David Simon, Simon Property Group's chief executive and chairman. Daniel spoke to more than a dozen insiders who have worked with Simon to get a peak inside his world. Simon led the group set to acquire bankrupt department store JCPenney and is a key player in the mall business. Click here for the full story. |
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