Goldman Sachs plans to cut bonuses for senior employees – report

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The bank did not immediately respond to a Reuters request for comment.

The dealmaking boom on Wall Street has taken a hit from high interest rates and soaring inflation.

Fees for advising companies on mergers and acquisitions, a key driver of revenue at the big U.S. banks, plunged this year from record highs last year.

Bloomberg News reported last week that Goldman plans to cut year-end bonuses for its traders.