Financial firms have spent years bolstering their tech workforce, engaging in bidding wars with the likes of Apple and Google for coders, engineers and key product developers. But with deal activity stalled and tech companies laying off workers by the thousands, Wall Street’s battle with Silicon Valley for tech talent has cooled.
Goldman Sachs’ plan to spin off significant parts of its not-for-profit digital bank, Marcus, has caused particular concern among tech workers in the finance sector, said several people who work in technology across the finance industry, especially after a The latest report indicated that Goldman plans to lay off up to 4,000 workers. A person familiar with the matter told The Information that the layoffs are likely to happen in early January.
