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 reported a smaller-than-expected 48% slump in quarterly profit, buffered by the strength in fixed-income trading, but warned it may slow hiring and cut expenses as the economic outlook worsens. 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 and deb…

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