Goldman Sachs layoffs include local employees

The beleaguered Goldman Sachs Group’s initiative to cut 10 percent of its global labor force work

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The beleaguered Goldman Sachs Group’s initiative to cut 10 percent of its global labor force worked its way to the Capital Region earlier this week, with dozens of layoffs reported at its Ayco financial consulting arm.

A Goldman Sachs spokeswoman in New York confirmed today that the former investment bank is laying off 10 percent of its 32,000 employees worldwide and that those cuts include Capital Region workers. In 2003, Goldman Sachs acquired the Ayco Co., which later moved its corporate offices to Saratoga Springs.

CBS 6, the Daily Gazette’s newsgathering partner, reported Monday that Ayco laid off several employees at its British American Boulevard office in Colonie. Goldman Sachs in October announced plans for the 10 percent cuts, and WRGB said they equated to about 135 layoffs in the region.

“I can confirm reports of the 10 percent reduction for Goldman Sachs, and we are part of Goldman Sachs,” Ayco spokeswoman Jacqueline Grande said, though she declined to give the exact numbers of local layoffs.

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