NEW YORK (TheStreet) -- Shares of Goldman Sachs (GS) - Get Report are climbing 1.04% to $151.95 in early-afternoon trading on Monday as the New York City-based bank will cut 55 more jobs in New York, Bloomberg reports.
This fourth round of job cuts pushes the total number of layoffs to more than 400.
The dismissals will occur between August 31 and December 29, Bloomberg adds.
Goldman Sachs has been reducing its workforce to contend with a decline in trading and deal making.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Goldman Sachs' strengths such as its expanding profit margins over time are countered by weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: GS
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.