U.S. investment bank Goldman Sachs plans to release about 5 percent of its global workforce in coming months, a company spokesman said on Friday.
Details of the cuts, which are set to take place across the bank's departments, are set to be announced by March, said the spokesman, adding this is part of the normal employee evaluation process.
We conduct performance reviews every year and this is part of that process, said the spokesman.
Goldman Sachs employs about 30,500 people worldwide, meaning the cuts would represent about 1,500 employees.
The spokesman added the bank is continuing to hire.
(Reporting by Humeyra Pamuk and Mathieu Robbins.)