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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7 Things You Need to Know to Start and Scale a Company
Entrepreneur contributors shared their experiences as an HR tech and fintech entrepreneur, detailing the creation of DailyPay and Salt Labs, the growth of the earned wage access market, and the acquisition of Salt Labs by Chime Financial. Key insights include focusing on doing one thing well, diversifying investors for reach, and prioritizing the right executive team based on company scaling. The importance of cash in exiting a company and focusing on tasks only the founder...
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