Deregulation, vulture capital, wars, crypto, worthless tech startups, Chinese hustles, funds of funds of funds. Climate chaos and an aging population--and years of doing less than nothing.
CEO David Solomon made a difficult decision to cut about 3,200 jobs last month. Does he have any regrets? Yes. He wishes he had done it sooner... — read more
Are the latest WARN notices that I've seen posted all over the place about the layoffs that already took place or are we looking at even more cuts at Goldman Sachs NYC offices? I'm confused and worried and I wouldn't be surprised if we're far from... — read more
All companies have layoffs but few do it as callously and uncaringly as Goldman Sachs just did. I have no intention to continue working here after what just happened. Not to mention, I'm all but certain that we'll be expected to pick up the work left... — read more
The WARN Act requires an employer to notify employees, in writing, 60 days before a layoff, and pay the employee for those 60 days, in addition to any severance the employee may be entitled to. Unfortunately, some employers attempt to circumvent the... — read more
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Cut 3,200 jobs & gave workers 30 minutes to pack up their belongings. This is per the Daily Mail.
If there used to be any, now that job stability is definitely gone. I'm thinking of leaving GS if I'm not laid off in the meantime, but is there at least a little more stability anywhere else? I wouldn't say there is. Moreover, I am not optimistic... — read more
I just hope that they're done with it this week, at least for this round. I don't want to have to stress over this for who knows how long. Get it over with, rip off the band-aid, and let us all move on. The prolonged layoff will just serve to... — read more
Sorry for the d-mb question, but I haven't been here long so I still don't know how things work here. If I haven't received notice so far, can I consider myself safe or will the uncertainty last until the end of the week? How did you get notified?
Is there any way for us to know when the January layoffs will start? I'm hoping for next week. The sooner we get it over with, the better.
https://www.nytimes.com/2023/01/10/business/dealbook/goldman-sachs-layoffs.html If paywalled use: https://archive.ph/uepfj Will try to paste below… —— Goldman Sachs Begins Large Round of Layoffs The investment bank plans to cut up to 3,200... — read more
I currently work at BNY Mellon. Our CEO recently announced a change to the 401K plan. Currently our company match (max 7%) is implemented each pay period. Starting in 2023, the match will be paid at the end of the year (actually, three months after... — read more
Let us post the known damage from the lay offs No names . Just a location and rank/ group would do Example: internal audit - 10 (2-NY, 1-Dallas, 2 - London, 2 - HK , etc)
Good luck everyone! I hope there are more people here who used advanced notice of layoffs and managed to find something better in the meantime!?
F U GOLDDMAN
Unfortunately, layoffs are not fair and it is not at all rare that some good and capable people are laid off instead of those who do not add any value to the company. Instead of blaming yourself, go out with your head held high, because some other... — read more
How many people will be impacted in New York offices?
I hope for the best but I expect the worst. Which department will be most impacted by these layoffs?
Some seem to be under the mistaken impression they are safe from the coming layoffs. Don't make that mistake. If layoffs here have taught me anything, that's that nobody is safe. I've seen people who've been here for decades and those who joined a... — read more
https://finance.yahoo.com/news/goldman-sachs-cut-3-200-004734031.html Good luck.
"Part of our disagreement with consensus arises from our more optimistic view on whether a recession is necessary to tame inflation. We think that a continued period of below-potential growth can gradually rebalance supply and demand in the labor... — read more
I'm not sure how I'm going to survive the following weeks knowing what's coming. Why would the leadership be so cruel as to announce this so close to the holidays? They could have waited a few days and let us enjoy Christmas with our families without... — read more
Happy New Year. https://www.cnbc.com/2022/12/16/goldman-sachs-is-planning-to-cut-up-to-8percent-of-its-employees-in-january.html
"Our economists say there’s a 35% probability that the U.S. tips into recession over the next year, an estimate that’s well below the median of 65% among forecasters in a Wall Street Journal survey. The U.S. may avoid a downturn in part because data... — read more
Profits are down again and the management is panicking. They are already talking about more organizational changes, which in essence means more layoffs. I think everybody should be prepared for what's coming because it will not be insignificant in... — read more
Get ready, people.
Since a bunch of folks were laid off on Friday, I was wondering if anybody knows if the layoffs will continue this week or not?
I love my job and ever since I started working here I tried to perform as well as I can. As time goes by, I'm gradually getting disappointed because it is very obvious that a good performance is worth nothing here. Unfortunately, this is not the... — read more
Why do so many think that the number of impacted employees will be much higher than several hundreds? Personally, I don't believe that the scope of layoffs will be so big.
Considering the total number of employees, some say that several hundred laid off employees is not a large number. I don't agree with that. I believe that the culture, which in any case has long been dysfunctional, will be even more toxic after... — read more
It is said that the target among several hundred people who will be affected will be poor performers. Do you believe in that or are you more of the opinion that there will be good employees too among those impacted?
How nice. Hundreds of job cuts coming. Good luck. And Thanks for getting the safe and effective jabs. Just when you thought those jabs would guarantee your job security they lay you... — read more
https://www.cnbc.com/2022/08/30/goldman-sachs-to-lift-vaccination-covid-19-requirements-in-most-offices-next-month.html Are you mad yet?
Or firings, more like it. There's a hiring freeze and performance reviews are back. This means they'll be able to get rid of people without having to pay them severance. Very smart move. I would be okay with this as long as it's truly the poor... — read more