Laid off from Goldman Sachs.
Goldman cuts on a calendar, an annual performance cull that trims 2 to 7% of the firm most years. The one time it did a real mass layoff, the package made headlines for what it didn't include, the bonus.
At a glance
What's been reported about Goldman Sachs severance packages
- 2 to 7% of the firm · The annual review's typical cut
- Up to 3,200 roles · January 2023, the big one
- 60 days active pay + 5 weeks severance · The 2023 package
- Reported as not paid · Annual bonus for those cut in 2023
The latest
The annual cull gives way to rolling cuts
After planning 3 to 5% cuts in its spring 2025 review, roughly 1,400 people, Goldman has since shifted toward targeted rolling reductions instead of one big annual event, spreading the same discipline across the year.
Previous rounds
How Goldman Sachs has handled layoffs in the past
Goldman institutionalized the layoff long before the rest of the economy discovered it. The firm's annual performance review has historically trimmed 2 to 7% of the workforce most years, paused only when markets boomed. A spokesperson once described the process as normal, standard, and customary, which tells you everything about how the firm views it. The calendar, historically spring, has been the signal worth watching more than any announcement.
The exception was January 2023, up to 3,200 roles in the largest cut since the financial crisis, when the deals drought met the expensive retreat from consumer banking. The package became the story. Fortune's reporting described roughly 60 days of continued active employment, five weeks of severance, and vacation paid out, with those cut reported to lose their annual bonus, a detail that stung most because the cuts landed days before bonus payouts.
By 2026 the firm had moved away from the single annual cull toward rolling targeted cuts, which spreads the risk across the calendar instead of concentrating it in spring. For anyone inside, two practical notes from the record. Performance-cycle timing has mattered enormously to what you walk away with at a bonus-heavy firm, and Goldman's severance has been negotiable in practice at senior levels, where individual agreements, not policy, set the terms.
Recent Goldman Sachs layoffs
2025 into 2026 · A planned 3 to 5% reduction in the spring 2025 annual review, later giving way to targeted rolling cuts as results improved
Terms not published for review-cycle cuts.
January 2023 · Up to 3,200 roles, the firm's largest reduction since the 2008 financial crisis, driven by the deals drought and the consumer-banking retreat
About 60 days of continued active employment with pay and benefits, then five weeks of severance, vacation paid out, and outplacement. Annual bonuses for those cut were reported as not paid, days before bonus season.
Quick answers
What severance did Goldman Sachs pay in its 2023 layoffs?
Reported as roughly 60 days of continued active employment with pay and benefits, then five weeks of severance at base pay, vacation paid out, and outplacement services. Those cut were reported to lose their annual bonuses, days before payouts, which drew more attention than the package itself.
Does Goldman Sachs do layoffs every year?
Most years, yes. The annual performance review has historically cut 2 to 7% of the firm, paused in boom years, and by 2026 the firm shifted toward rolling targeted cuts through the year instead of one spring event.
What severance has Goldman Sachs given laid-off employees?
2 to 7% of the firm (the annual review's typical cut). About 60 days of continued active employment with pay and benefits, then five weeks of severance, vacation paid out, and outplacement. Annual bonuses for those cut were reported as not paid, days before bonus season. Packages change between rounds, and your separation agreement is the only version that counts.
Where do I file for unemployment after a Goldman Sachs layoff?
In the state where you worked, not where the company is headquartered. Goldman Sachs's biggest U.S. hubs are New York, Utah, Texas. Severance usually doesn't block you from filing, and benefits run from your filing date, so file the same week.
Should I sign the severance agreement right away?
Not on the spot. First pin down how much review time you actually have. If you're 40 or older, federal law gives you 21 days to consider an agreement that waives age claims, 45 in a group layoff, and a waiver signed under a shorter deadline can be invalid. If you're under 40, no federal window applies and the deadline in your packet may be real, so confirm it in writing and ask for more time if you need it. Use whatever window you have to read the release terms, especially non-disparagement and no-lawsuit clauses, and don't stall past a real deadline, because offers can be withdrawn.
Can I collect unemployment if I got severance from Goldman Sachs?
Usually yes, though some states delay benefits until severance pay periods end, and lump sums are treated differently than salary continuation. Check your state's rules on our state benefit pages, and file immediately either way so your claim date is locked in.
Help for people recently laid off from Goldman Sachs
- File for unemployment in the state where you worked. Benefits run from your filing date, and severance usually doesn't block you. Goldman Sachs's biggest hubs: New York, Utah, Texas. Somewhere else? Every state is here.
- Don't sign the severance agreement on the spot. Find out in writing how long you have to review it. At 40 or older, federal law guarantees 21 days, 45 in group layoffs. Under 40, the packet's deadline may be real, so ask for time rather than assume. Read our severance breakdown first. The clauses matter more than the number.
- Mind the health insurance window. Losing coverage opens a 60-day special enrollment period, and an ACA plan usually beats unsubsidized COBRA. Compare your options before the employer coverage lapses.
- Get your real runway number. Severance plus savings divided by reality. The calculator takes five minutes.
- Know which clocks are already running. Severance review windows, COBRA election, visa grace periods, and 401(k) rollovers all run on federal deadlines that started at termination. All five deadlines are here.