Goldman Sachs

(GS) - Get Report

has cut about 10% of its investment bankers in Tokyo as part of global efforts to cut its work force,

Reuters

reports.

Goldman has laid off more than 10 bankers from its mergers and capital markets teams, including Naomi Matsuoka who led Goldman's equity capital markets team,

Reuters

reports, citing people familiar with the matter.

Matsuoka is known for her role in sales of shares by the Japanese government, including stakes in Nippon

Telegraph and Telephone

and

East Japan Railway

.

Goldman handled many of Japan's big privatization deals, helping to boost its ranking on banking league tables.

Goldman ranks this year as the No. 4 investment bank in handling Japanese share sales, up from 12th at the same time last year,

Reuters

reports, citing data compiled by

Thomson Reuters

.

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This article was written by a staff member of TheStreet.com.