Wall Street

Goldman warns it may slow hiring, cut expenses as deals slump

Published by
Reuters

By Noor Zainab Hussain and Saeed Azhar (Reuters) – Goldman Sachs Group Inc on Monday warned it may slow hiring and cut expenses, as the economic outlook worsens, after reporting a 48% slump in quarterly profit which beat forecasts due to gains in fixed-income and commodities trading. U.S. Federal Reserve interest rate hikes, aimed at taming runaway inflation, have rattled global financial markets, curbing companies’ appetite for deals and making them wary of stock and debt offerings. Goldman’s investment banking revenue fell 41% to $2.14 billion in the second quarter, as fees from both equity …

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