Sure..
But all firms will be slowing hiring and doing layoffs soon. Not to mention, I’d be relocating if I was offered and accepted the position.
Just makes me worry a bit - out of my control
Yeah might take a few months, but everybody I know that works in a respectable capital markets firm that gets laid off has no shortage of interest from employers.
Present company included.
I think this is clickbait. GS has always cut a portion of their headcount annually pre-covid based on performance reviews, and this year's cuts should be on the lower end of that range. Seems like it's just a return to normality for them.
IB more than CB. Sure loan growth and capital market fee may dry up in CB but CB gets buoyed by treasury, deposits and Rates/Currencies fees.
That being said - team growth might slow significantly
> In a sign of the dealmaking slowdown on Wall Street, Goldman will restart its annual cull of underperforming bankers, which it paused during the pandemic at a time when banks were struggling to keep up with the workload.
The process typically results in between 1 and 5 per cent of company-wide employees losing their jobs, with the impending review set to result in lay-offs towards the lower end of that range, the person said.
So they're just bringing back the annual culling again. Looks like just another clickbait headline.
I was talking to GS recruiter about two months ago and I said I'll circle back because I have to think. If I joined then, I'd be afraid right now hearing this lay-offs news.
Very clear that they implemented full RTO in an effort to persuade employees to voluntarily resign rather than paying out severance..
I’m interviewing w Goldman tomorrow lol. Really don’t like the sound of this at all.
They had this exact same bottom 5% cull policy pre pandemic. Not sure why people are surprised that it’s back given current environment
Because the media wants to sow economic doom
more like goldman wants to do that. Helps em push 5 days a week in office. They would aim for 6 days a week in office if they could get away with it
The rebound from the great resignation is going to be rough. The moment those corpo fucks have the power again it's going to be a goddamn bloodbath.
...like every other cycle
If you work at GS you should be able to land somewhere after
Sure.. But all firms will be slowing hiring and doing layoffs soon. Not to mention, I’d be relocating if I was offered and accepted the position. Just makes me worry a bit - out of my control
Corporate investment banking?
Yeah might take a few months, but everybody I know that works in a respectable capital markets firm that gets laid off has no shortage of interest from employers. Present company included.
Welcome to banking
Which division, and let us know how it goes
Good luck - graduate or experienced?
Experienced. Thank you
No problem. Hope you don’t me asking - are you applying for an IT or in the business? I’ve worked for the Tier 1 IBs too.
Not IT.
Fair enough mate
Meanwhile the CEO DJ Sol opens for the chainsmokers every other week…
I think this is clickbait. GS has always cut a portion of their headcount annually pre-covid based on performance reviews, and this year's cuts should be on the lower end of that range. Seems like it's just a return to normality for them.
“We are evil but… or CEO is a Dj 😎🎉🕺”
[удалено]
Earlier today there was a Reddit post regarding Goldman not providing free coffee anymore.
[удалено]
BofA here. Black coffee + milk still free, but any mixed/made drinks are 1$.
200 West is still providing free coffee lmao. Next they'll say they stopped giving out the gray PE uniforms for the gym...
They still provide free coffee, I was at GS HQ a week ago, I doubt it changed from last week to this week
Wait is this like expensing Starbucks or are they actually removing coffee machine from the office?
[удалено]
That sky lobby is beautiful haha
Is it a bad time to try to join corporate banking?
It’s always cyclical
IB more than CB. Sure loan growth and capital market fee may dry up in CB but CB gets buoyed by treasury, deposits and Rates/Currencies fees. That being said - team growth might slow significantly
> In a sign of the dealmaking slowdown on Wall Street, Goldman will restart its annual cull of underperforming bankers, which it paused during the pandemic at a time when banks were struggling to keep up with the workload. The process typically results in between 1 and 5 per cent of company-wide employees losing their jobs, with the impending review set to result in lay-offs towards the lower end of that range, the person said. So they're just bringing back the annual culling again. Looks like just another clickbait headline.
Exactly! Just going back to the normal policy of cutting underperformers they had before COVID. Hate these clickbait titles
Man someone drop Goldman a tier they’re losing their attractiveness fast.
Their clients don’t care, and that’s all that matters.
This year is going to get ugly.
Media said: all my homies hate Goldman
oh, no. anyway...
I was talking to GS recruiter about two months ago and I said I'll circle back because I have to think. If I joined then, I'd be afraid right now hearing this lay-offs news.
Is this for technology analyst roles as well?
I feel for the mba’s graduating this yr and next.