Goldman Sachs, $GS, to lay off over 1,300, up to 4% of workforce

Goldman Sachs (GS.N) is set to lay off over 1,300 employees from its global workforce as part of its annual review process aimed at trimming low performers, according to a report from the Wall Street Journal, which cited sources familiar with the situation. The bank is expected to reduce its staff by 3% to 4% across various divisions. The layoffs have reportedly already begun and will continue throughout the fall.

This story is still developing and will be updated as more information becomes available.