Goldman Sachs lays off 3,000 staff

by

Global investment firm Goldman Sachs sacked more than 3,000 employees in disguise of business meetings as early as 7.30 a.m. and the meetings with senior managers were put on Google calendar “false pretenses”, the media reported.

The New York Post reported that Goldman Sachs’ CEO David Solomon “e-mailed calendar invites that called targeted employees to phony ‘business meetings’ at its New York headquarters” last week. Once the employees arrived at the conference room some as early as 7.30 a.m. they were told by their managers that they were being fired.

“Managers were sorry to do this, but their hand was forced, and they wished him the best of success,” according to the newspaper, which cited inside sources.

Another employee was instructed to arrive at 7:30 a.m. for a conference call with Goldman peers in the Asia-Pacific area.

“I didn’t question the early meeting because those with other regions are normally during off-hours,” the impacted employee said.

Those who were fired were given the option of leaving the office immediately or waiting for colleagues to come so they could say their goodbyes.

“This is a terrible time for anyone leaving the firm,” a Goldman Sachs representative stated.

“We’re grateful for all of our people’s contributions, and we’re providing assistance to ease their transitions,” added the spokeswoman.

“David’s Demolition Day” was the name given to the layoffs at Goldman Sachs.

The worldwide financial sector layoffs struck Indian workers as well, and some of the impacted IITians and IIM grads aired their hardship on various social media channels.

Related Stories

Latest News Stories

Discover more from Silicon Valley Journals

Subscribe now to keep reading and get access to the full archive.

Continue reading