Goldman Sachs is preparing its annual round of layoffs, this time with a focus on its vice presidents.Goldman CEO David Solomon has told senior executives that the firm hired too many vice presidents in recent years in relation to its overall hiring,

Goldman Sachs (NYSE:GS) is reportedly gearing up for its annual culling of low performers, with overhired vice presidents in the crosshairs as the firm seeks to improve overall efficiency. Senior executives have been informed by Goldman (NYSE:GS) CEO David Solomon that the investment bank added too many vice presidents in recent years relative to

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.

By Saeed Azhar NEW YORK (Reuters) -Goldman Sachs plans to trim its staffing by 3% to 5% in an annual performance review process this spring, said a source familiar with the matter who declined to be identified discussing personnel matters.