Goldman Sachs to cut employees pay
Goldman Sachs to cut employees pay The third quarter results of Goldman Sachs group Inc (NYSC:GS) were below of the market expectations. Revenue fell to $6.72 billion which was 20%. Revenues from the bank’s fixed income, currency, commodities etc were fell to $1.29 billion from $2.49 billion. Also revenue from investment in debt securities with loans fell to $300 million. In last year per share was $2.85 and now it is to be expected $2.43 per share in the stock market. it is worse than the competitors. Wall street bank’s have been hurt by the uncertainty about the Fed’s monetary policy. Their declines were more than 20% range. The blames (NYSC:GS) could be on its mix products and clients. Bank focuses on mortgage bond trading and institutional clients. The mortgage bond trading business has seen a downslide this year with the client activity. Goldman is not yet ready to change its strategy. Now Goldman is tightening itself by reducing compensations expense by 35% from $3.68 billi
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