Taking stock | As profits plunge, Goldman Sachs slows down hiring and reviews underperforming staff

Amid ongoing cost-of-doing-business concerns, Goldman Sachs has ‘slowed down’ its recruitment plans and reintroduced annual performance reviews in a bid to weed out underperforming workers.

As reported by Bloomberg, the Wall Street behemoth’s CFO, Denis Coleman, told analysts during a recent conference call: “Given the challenging operating environment, we are closely re-examining all of our forward spending and investment plans to ensure the best use of our resources.”