Goldman Sachs might be warming up for some more job cuts soon

15 September 2026

2 minute read

It's September, and if you work for Goldman Sachs, this often means job cuts. Historically, Goldman Sachs has pruned underperformers in September. Sources at the firm tell us this may be about to occur again.

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Goldman Sachs is declining to comment on these suggestions. The firm cut 3-4% of its people in September 2024 and made cuts around September in both 2022 and 2023. In 2024, it cut between 1,300 and 1,800 people at this time of year.

Goldman's September job cuts usually occur as part of its dryly named "strategic resource assessment" (SRA). First it appraises people. Then it identifies low performers who only "partially meet" expectations. Then it sends some of them on their way.

This year, Goldman has been doing things a bit differently. Business Insider reported in March that Goldman would be making rolling layoffs throughout the year instead of one big round of cuts in September. However, it also said the more traditional September round could still occur.

Goldman Sachs may not necessarily need to cut costs, having massaged its compensation ratio (costs as a percentage of revenues) to the lowest level in a decade during the first half of 2026. However, Goldman Sachs may want to cut costs because it, too, is keen on AI and it has six workstreams for engineering processes "from the ground up."

Goldman Sachs' CEO David Solomon is due to talk at the Barclays Global Financial Services Conference tomorrow. More may become apparent then.

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