Goldman Sachs is reportedly planning to trim its headcount by 3% to 5% during its annual performance review this spring, potentially leading to more than 1,300 job cuts, including under-performing vice presidents.

Goldman Sachs trims its staff, cutting what it deems to be the underperformers. This year, VPs stand to be big targets, BI has learned.

Goldman Sachs plans to trim its staffing by 3% to 5% in an annual performance review process this spring, said a source familiar with the matter who declined to be identified discussing personnel matters.

Goldman Sachs (NYSE:GS) is reportedly gearing up for its annual culling of low performers, with overhired vice presidents in the crosshairs as the firm seeks to improve overall efficiency. Senior executives have been informed by Goldman (NYSE:GS) CEO David Solomon that the investment bank added too many vice presidents in recent years relative to