Thread regarding Goldman Sachs layoffs

Layoffs will have nothing to do with performance

No matter how hard you work and how good at your job you are, if you've been here long enough to have your pay reflect it, you're in danger. They'll use this opportunity to get rid of high earners and replace them with younger and cheaper alternatives. This will prove to be a disaster in the long run - you can't just get rid of so much institutional knowledge and not feel it down the road - but it'll provide temporary savings and that's all they care about.

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