FOX Business Network’s Charlie Gasparino reports that Goldman Sachs (GS) is adding “1,000 jobs in Singapore” as they cut jobs in the United States in order to meet new budget restrictions. Gasparino reports that executives at Goldman Sachs are “so concerned about this juxtaposition; cutting here, expanding overseas” that they are “spending time in Washington alerting law makers before it comes public to soften the blow.” Excerpts from the report are below, courtesy of Fox Business Network.
On the changes occurring within Goldman Sachs:
“We know there are going to be big cuts at Goldman Sachs but the FOX Business Network has learned they are expanding overseas; 1,000 jobs in Singapore. Goldman Sachs is so concerned about this juxtaposition; cutting here, expanding overseas. They are so concerned about the fall out of this, sources tell the FOX Business Network their representatives have been spending time in Washington alerting lawmakers before it comes public to soften the blow. They are in a major retrenchment. Goldman has to cut a billion dollars of costs over the next year, a lot of it is going to come in the U.S., and they are expanding overseas, the same type of high paying jobs they are going to cut here in the U.S.”