NEW YORK: Goldman Sachs Group Inc plans more workforce reductions as the difficult economic environment weighs on dealmaking and warned trading revenue could fall 25% this quarter, the bank's president said on Thursday. "The macro backdrop is extraordinarily challenging," Goldman's President and Chief Operating Officer John Waldron told investors at a conference, without specifying the scale of the layoffs. The firm is expected to cut just under 250 jobs in the coming weeks, a source familiar with the matter told Reuters in May. In January, it cut 3,200 jobs, its biggest headcount reduction since the 2008 financial crisis. Waldron said the latest job cuts will help the Wall Street titan achieve the $600-million target it set in February for reducing payroll expenses, and said the bank may actually surpass that target by the end of the year.