Goldman Sachs Group has cut 10 roles to further downsize its global commodities trading division, according to Reuters, citing sources familiar with the matter.
The cuts were announced this week following an annual review of headcount across all divisions and regions. The cuts are global and will involve merging the commodities unit’s metals trading desks, the sources said.
The review showed the commodities trading business was using too much capital for too little profit, The Wall Street Journal reported.
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