Goldman Sachs is planning to reduce its workforce by 1,000 following a fall in its fixed-income revenue in the second quarter of 2011, Bloomberg reports. The job cuts, which are expected to affect both junior and senior employees, will be in addition to Goldman’s annual 5% job cuts, adds The Telegraph.

The bank received $1.09 billion in net income from trading debt, currencies and commodities in the first quarter of 2011, a decrease of about 63% as compared to the previous quarter. Goldman’ workforce consisted of 35,500 employees at the end of June 2011.

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