Thread regarding Wells Fargo & Co. layoffs

Goldman Sachs cutting back on benefits... wonder if WF will follow suit.

Wow, things must be bad at Goldman Sachs.... they're not only cutting the paid breakfast and lunch perks, but they're also completing cutting coffee. Watch other banks follow suit. And they're increasing after hours meals, which is a sign they want workers to work later hours.

"The days of free lunch are over at Goldman Sachs Group Inc.

The investment bank said Tuesday that it’s transitioning back to “paid-for-meal” service for breakfast and lunch on April 25, scrapping a pandemic perk. Goldman also said it was boosting the stipend for meals “out of hours” to $30 from $25, according to a memo obtained by Bloomberg."

https://www.bloomberg.com/news/articles/2022-04-19/goldman-sachs-scraps-free-lunch-marking-end-of-pandemic-office-perk

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Post ID: @OP+1glojnOg

7 replies (most recent on top)

meals "out of hours" is code word for "you're at the office until midnight so you can order takeout at your desk and expense it" - standard operating procedure in an investment bank.

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Post ID: @4kgg+1glojnOg

Don't need coffee service if everyone is working remotely ;)

Will need to see what Chase/Dimon do--THAT's where we get all our executive decisions.

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Post ID: @1zja+1glojnOg

Dang, didn't realize I needed to be in investment banking just to get free coffee at the office.

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Post ID: @1goc+1glojnOg

Investment Bankers at Wells has similar benefits, but that's the specific industry. Not all retail banking or even brokerage

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Post ID: @ovv+1glojnOg

There would first need to be perks to be removed… I am not aware of any they have not already removed in the last two years?

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Post ID: @esh+1glojnOg

Raise your hand if you worked at any brokerage when catered lunch, breakfast, dinne, snacks and drinks were a 5 day a week “perk”! ✋🏻

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Post ID: @jhg+1glojnOg

It was a perk. Covid is mostly done and so are the perks. No big surprises here.

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Post ID: @xdf+1glojnOg

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