Goldman Firing 10% Of Firm (GS)

On the ablaze side: "Government Sachs" is still hiring. (Or is it?)

WSJ: Goldman is advancing to cut about 10% of its 32,500 employees, according to humans accustomed with the matter, a assurance of deepening job losses on Wall Street...

In September, with the company's plan force at a almanac high, Chief Financial Officer David Viniar adumbrated he accepted the company's arch calculation to be collapsed or college for the blow of the year. But the acclaim crisis has deepened back then, banishment Goldman to accomplish the cuts.

A assurance of the times:

The downsizing beachcomber is acceptable to get worse on Wall Street in the next several months, from balance firms to barrier funds. Barclays PLC affairs to cut at atomic 3,000 jobs from its amount in the U.S., which includes above Lehman operations.

Of the 61,000 advisers at Merrill Lynch & Co., bags are acceptable to lose their jobs as allotment of the firm's looming takeover by Bank of America Corp. Merrill already has alone 5% of the its jobs this year.

About 75 Merrill staffers were cut this anniversary from its Asian fixed-income and equities trading desks, according to humans accustomed with the situation. Those cuts were allotment of a all-embracing agents abridgement that alone about 500 trading jobs, a being abutting to the bearings said.

At Morgan Stanley, application as of the end of August was down about 3% from a year beforehand to 46,383.