Another round of redundancy is ongoing in Europe. Employees with years of experience and knowledge are cut to lower costs. That’s how short term shareholders get more but in the long term all knowledge and experience of and for clients are gone.
6 replies (most recent on top)
I’ve been hit in London. So unexpected after years of service. And not long after I met Robin ….
It’s the Goldman Sachs culture coming through. Cut the workers but keep hiring more Execs in the US with the announcements coming out during consultation period. Makes no sense!
Big cuts coming in U.K. & Ireland Global Client Management. Many years overdue…
There is little institutional knowledge in our European sites, particularly in relationship “managers”. I’ve wondered for years why they still exist. The simplest challenges result in numerous calls to the U.S.
Do you really think Robin shared the news? What areas are being hit?
We are experiencing a serious loss of institutional knowledge. It is going to get much worse and not necessarily from layoffs.
Robin must've handed out the orders during his recent European tour.