SECURITIES
From Times Staff and Wire Reports
Goldman Sachs Lays Off 70: The company began its expected 5% work force reduction, laying off workers in its fixed-income and currency and commodity trading divisions, which include the investment bank’s J. Aron currency and commodity trading unit. Goldman, Sachs & Co., the richest investment bank on Wall Street, is struggling against sharply lower trading and underwriting profits as a result of this year’s bond market tumble. Other Wall Street firms have already made big cuts.
