NEW YORK Goldman Sachs said it will not reduce its work force this year, despite recent cuts made by a slew of competitors.
The firms chief executive, Henry Paulson Jr., said Friday that it is conducting its annual review, which usually affects the bottom 5% of performers, but no layoffs will be made.
Merrill Lynch & Co. announced layoffs last week in its public finance division, while Charles Schwab Corp. made cuts in its British subsidiary and Credit Suisse First Boston said it would fire at least 350 employees, mainly in support positions.
U.S. Bancorp Piper Jaffray announced in late March that it would lay off employees in its capital markets division.
