Goldman Sachs is cutting more jobs than expected

Butcher knife sharpening

Goldman Sachs is extending its plans to reduce headcount this year.

The firm on Thursday updated a form filed with the New York State Department of Labour to reflect that 109 people will be affected, rather than 43 as previously reported.

The layoffs will be carried out between May 9 and December 31, while previously the firm had said they would finish by July 1.

Bloomberg first reported the updated filing.

Goldman Sachs is known for shedding the bottom 5% of its total roster every year.

But this year it is reportedly cutting up to 10% of its fixed income, currencies, and commodities business, potentially affecting as many as 250 people.

It isn’t clear which divisions would be affected by the 109 layoffs filed to New York regulators.

Wall Street banks have had a rough go of it lately. The first quarter has been the worst for investment-banking revenues since the dark post-financial days of 2009.

Trading businesses have been hit especially hard, while banking revenues are down in large part because of a weak initial public offering market.

On Thursday, news broke that the Japanese bank Nomura could be cutting up to 20% of its North American staff.

Everyone from Bank of America Merrill Lynch to Deutsche Bank to Credit Suisse have reduced headcount this year.

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