Wall Street's Shrinking Workforce

The video discusses job cuts in financial firms like HSBC and State Street, highlighting automation and cost-cutting as key factors. Despite receiving significant tax cuts, banks are still laying off employees, challenging the notion that tax cuts create jobs. The video also covers potential transformations at Goldman Sachs under new leadership, focusing on changes in their fixed income and commodities sectors.

Which of the following companies is mentioned as cutting jobs at the senior executive level?

• HSBC

• State Street

• Goldman Sachs

• Banco Santander

What is one reason mentioned for job cuts in financial firms?

• Automation and robots

• Increased competition

• Higher taxes

• Global expansion

How much did banks receive in tax cuts, according to the transcript?

• $10 billion

• $15 billion

• $21 billion

• $25 billion

What business areas at Goldman Sachs are potentially facing job cuts?

• Investment banking

• Wealth management

• Retail banking

• Fixed income, commodities, and currency

Who is taking over leadership at Goldman Sachs from Lloyd Blankfein?

• Alex Mason

• David Solomon

• John Smith

• Michael Bloomberg