Goldman Sachs Lays Off Thousands This Week

Goldman Sachs Group (GS: 64.55 -3.27%) notified about 3,200 employees yesterday that they have been laid off, part of previously announced plans to cut about 10% of the firm’s work force amid crashing financial markets.

Goldman has been letting people go left and right all year. The bank handed out hundreds of pink slips to its M&A support staffers and junior bankers back in June due to market conditions on the heels of a round of leveraged lending and mortgage securities layoffs in April.

Early in the year, Goldman also cut over 1,500 people following the results of their 2007 performance reviews.