2012-08-16bloomberg.com

``Goldman Sachs, the fifth-biggest U.S. bank by assets, said last month that it plans to eliminate $500 million from annual expenses, mostly from compensation, after reporting its lowest first-half revenue since 2005. The cuts are on top of a $1.4 billion expense-reduction program that was completed earlier this year. Goldman Sachs employed 32,300 people at the end of June, according to a company press release. ''



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