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Goldman Sachs cuts bankers’ bonus pot by 20% as profits fall

Firm announces $798m reduction in amount set aside for benefits and salaries

Goldman Sachs has slashed 20% from the cash it sets aside to pay bankers’ bonuses after reporting lower profits in the first three months of the year.

The Wall Street firm said it was cutting its salaries and benefits pot by $798m (£609m) to $3.3bn, a move that will hit executives, senior managers and lower-level staff.

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