The investment banking giant stands by its practice of regular staff cuts often called its 'annual cull,' trying to cut between 3 and 5 percent of its workforce of 46,500.

Goldman Sachs plans to trim its staffing by 3% to 5% in an annual performance review process this spring, said a source familiar with the matter who declined to be identified discussing personnel matters.

The issue was discussed by CEO David Solomon and the bank’s partners at their annual meeting in Miami earlier this month, multiple sources told The Post.

Wall Street investment bank Goldman Sachs (GS) is planning to cut up to 5% of its global workforce with a focus on its vice presidents.Discover

Goldman Sachs is reportedly planning to trim its headcount by 3% to 5% during its annual performance review this spring, potentially leading to more than 1,300 job cuts, including under-performing vice presidents.