Goldman to Make Annual Cut of Underperformers as Soon as October

Goldman Sachs Group Inc. is planning its annual cut of underperforming workers beginning later next month, a person familiar with the matter said.

Reductions this year will be at the lower end of the bank’s usual range of 1% to 5% of its workforce, the person said, asking not to be identified discussing non-public information. The reductions will take place from late October to early November, the person said.