Goldman Sachs (GS) Said Planning Deeper Cost Cuts Amid Trading Lull

Goldman Sachs (NYSE: GS) is on watch following reports that the bank could be conducting some of its deepest workforce cuts seen in years as it works to navigate flat trading performance amid choppy markets.

According to Bloomberg, Goldman has begun dismissing more support staff and has pared-back on banker's spending with respect to airfare, hotels, and the like. Other ways the firm could reduce expenses is by deferring projects, stemming hiring, and spending less on advertising/printing brochures.

Goldman is expected to post Q1 results on Tuesday. Analysts are looking for a 37 percent drop in revenue, but 29 percent drop in operating expenses.

Operating expenses had been below $23 billion from 2011 to 2014 before popping above $25 billion last year on litigation and regulatory costs.

Shares of Goldman are flat in early trading.

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