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Goldman Sachs is gearing up for its annual workforce reduction, with plans to trim between 3% and 5% of its employees, marking a shift in timing for the firm's regular personnel cuts. Unlike previous years, when these layoffs typically occurred in the second half of the year, this round is expected to take place in the spring.

Investment bank Goldman Sachs (GS) has become the first Wall Street firm to lower its year-end target on the benchmark S&P 500 index as the

Goldman Sachs Group Inc. strategists lowered their target for the US equity benchmark, and lifted their view on European earnings, in a further sign of growing skepticism on the outlook for the world’s largest economy.