Goldman Sachs' president and chief operating officer, John Waldron, said that the storied Wall Street bank is "running tighter" as it embarks on its third round of job cuts within a year.

Waldron said that the bank was in the midst of "additional targeted actions" with its employee numbers amid a tough market for dealmaking. The bank is cutting around 250 employees, predominantly at a senior level, The Wall Street Journal reported on 29 May. Goldman is looking to save around $600m on payroll costs, he said at the Bernstein Strategic Decisions conference on 1 June.