Goldman Sachs laid off 3,200 people a few days ago, and announced the financial results of its new department on the 13th, with a loss of up to US$3 billion since 2020.

(AFP)

[Financial Channel/Comprehensive Report] Goldman Sachs (Goldman Sachs) stated on Friday (13th) that since 2020, its newly established "Platform Solutions" division has lost US$3 billion (approximately NT$90.8 billion) before tax. In the first nine months of last year alone, there was a total loss of 1.2 billion (approximately NT$36.3 billion).

The bank will restate its financial results for the past three years.

According to the Financial Times (Financial Times, FT) report, Goldman Sachs' platform solutions department, which is mainly responsible for technology and consumer finance business, reported a loss of up to 1.2 billion U.S. dollars in the first nine months of last year; billion, compared with a loss of $783 million in 2020.

Please read on...

The platform solutions unit includes credit cards that Goldman uses to back companies like Apple and General Motors, as well as transaction banking services for corporate clients.

However, according to the current data, Goldman Sachs' consumer finance journey has been very bumpy and difficult.

Chief Executive David Solomon announced Goldman's new internal structure in October to persuade investors to give the bank a higher valuation.

The announcement of the financial data is to help investors better evaluate and track the performance of various departments before the bank announces its Q4 results next Tuesday.

Goldman Sachs Group began to lay off 3,200 employees last week. Most of the affected employees received a temporary notice on Wednesday. The supervisors who informed the order all confessed that the process was "brutal".

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news