Financial News Online notes that Goldman Sachs regularly weeds out its bottom performers to make way for new recruits. This year, the weeding out seems to be a bit more aggressive than usual. Goldman reportedly will axe about 1,500 of its 30,500 employees. While this hardly represents a dire cut, or one born of desperation, it likely will light a fire under a few employees. Some see this as a sign that the first quarter will be rough, while other banks have laid off more. Lehman Brothers, for example, will reportedly lay off 10 percent of its investment banking work force.  

For more:
- here's the Financial News Online article

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