Goldman Sachs Plans To Fire Up To 4,000 Employees
We’re talking about the premier investment bank so others will almost definitely follow.
To put that into perspective, that’s a whopping 8% of their total workforce, not insignificant. They’re also considering cutting bankers bonuses by as much 40% - which will not go down well at all.
Get ready for more headlines like this heading into 2023, as this is exactly what the Fed wants to bring inflation down.
Most forecasts are for an unemployment rate of around 4-6% in 2023.
BUT if we look at what the inverted yield curve is telling us, the last time it was this inverted, unemployment shot up to an eye-watering 10%.
Strap in.
