Suffering from one of its worst years since 1990, Goldman Sachs & Co. reportedly plans to lay off 900 employees, or 10% of its workforce. Further reductions are likely at the firm.

The number of layoffs was first reported in yesterday's Wall Street Journal. A spokesman for Goldman Sachs confirmed that layoffs would take place but refused to specify a number. "It's company policy not to comment on speculative numbers," he said

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