Goldman cutting about 3,200 jobs due to financial crisis

NEW YORK — Goldman Sachs Group Inc. has begun notifying about 3,200 employees globally that they have lost their jobs, as the world's biggest investment bank slashes expenses to ride out the financial crisis, a person familiar with the situation said Wednesday.

Positions will be cut across Goldman's offices globally and among various business lines, and will bring the company's staffing to 2006 and 2007 levels, the person said. He spoke on condition of anonymity because the company hasn't publicly disclosed details of the plan.

According to CapitalIQ, Goldman has more than 37,000 employees across its operations. Goldman operates a Utah-based bank for private clients.