Goldman Sachs Group reiterated on Tuesday that it would be making around five per cent of its staff redundant.

The US investment bank made the statement after reports in late March saying the company would be cutting 15 per cent of its jobs. Goldman Sachs first announced it would be cutting five per cent of its workforce in January of this year.

According to Reuters a spokeswoman for Goldman Sachs said the company was evaluating the bottom five per cent of its workforce as part of an annual performance review, but would not make any further redundancies beyond that.

Currently, Goldman Sachs has around 30,500 employees across the globe, a five per cent reduction would mean around 1,500 lost jobs.