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Goldman Sachs has just reported a relatively upbeat quarter which for the time being has concluded the main cost cutting efforts on which the bank embarked in the first half of 2016. The company’s management stressed that its restraint regarding pay should boost the firm’s bottom line in the coming years with about $700 million per year.
Goldman Sachs has successfully completed a set of cost cutting measures in the second quarter of 2016, as the firm set aside $3.33 billion for compensation and benefits. This marks a decline of 13 per cent when compared to the same period of last ... (read more)