Goldman Sachs’ cost-cutting initiative, “Project Voyage,” involves relocating select managers from NYC to growing locations like Dallas and Salt Lake City, in an effort to develop talent pipelines and capitalize on lower office space costs. The bank plans to cut 3% to 5% of its workforce, primarily targeting vice presidents, and aims to reduce expenses by $1.3 billion through layoffs and relocations. Project Voyage, launched in 2024, is part of a multi-year plan to save money and streamline operations across various divisions within the company.
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