Goldman Sachs refrains from a second wave of performance-related job cuts this year contrary to earlier considerations.

Originally, the US bank had planned another round of layoffs for September to prepare for a possible slowdown in business dynamics following the "Liberation Day" tariffs imposed by President Trump. However, according to current assessments, such a step is no longer necessary, according to internal sources. Goldman itself declined to comment.

As early as spring, the institute had reduced staff as part of its annual "Strategic Resource Assessment" – a common measure on Wall Street for performance evaluation and cost management. This affected a low single-digit percentage of the approximately 46,000 employees worldwide.

The bank's decision reflects the shift in the market environment.

Goldman Sachs clearly benefited in the second quarter from resurgent customer activity. Revenues in investment banking increased by more than 25 percent compared to the same quarter last year - the strongest increase among the major US institutions. JPMorgan, Morgan Stanley, and Bank of America also reported better numbers than expected. Industry data from the London Stock Exchange Group show that investment banking fee income has so far risen by 2 percent to around $67 billion.

Moreover, the trading business continues to deliver high contributions. The increased market volume and ongoing volatility in stocks and bonds particularly benefited banks like Goldman Sachs, which have strong platforms in equities and fixed income.