When it comes to dividing the spoils at Goldman Sachs, the firm is making sure employees get hearty helpings, while shareholders are left with crumbs.
The Wall Street titan posted a disappointing first quarter. Revenue in Goldman's core fixed-income trading division fell 63% sequentially and 53% year-over-year due to reduced trading activity and economic uncertainty. That, along with weakness in its lending-and-investing division, led to an 18% year-on-year decline in overall firm revenue.