Goldman Sachs workers fired in ‘meetings’ they were invited to: report
It’s one thing to get fired from a prestigious bank like Goldman Sachs. It’s another when that happens after you show up for what appears to be a routine meeting.
As of Wednesday, Goldman cut 3,200 jobs, or about 6.5% of its workforce. That came as no surprise, as CEO David Solomon had already warned employees last month that he expects “downsizing to take place in the first half of January, citing “the tightening of monetary conditions slowing economic activity.”
But the firing apparently surprised some employees, who showed up for what they believed to be a routine meeting, according to insiders who spoke to the company New York Postas the newspaper reported on Friday.
These employees had reportedly received emailed calendar invitations to fake meetings, some as early as 7:30 a.m. at the bank’s New York headquarters. But when they showed up, they said they were being fired while their manager looked on.
Wednesday was referred to internally as “David’s Demolition Day”. post Office.
When wealth asked Goldman Sachs about that post Office Report replied Tony Fratto, Global Head of Communications:
“We know this is a difficult time for people leaving the company. We are grateful for the contributions of all our employees and offer support to ease their transition. Our focus now is to properly size the business for the opportunities ahead in a challenging macro environment.”
Etiquette surrounding layoffs has come to the fore lately, particularly in the tech sector, which has seen dramatic job cuts in recent months, even as the overall US unemployment rate remains low.
Earlier this month, CEO Marc Benioff came under fire at Salesforce for dodging questions during an all-hands meeting over mass layoffs that had been announced just the day before. One employee questioned whether the Hawaiian concept of “ohana”—the idea of family bonds that encourage people to be responsible for one another—should still be at the core of the company culture, as Benioff articulated when he founded Salesforce.
Elon Musk was heavily criticized in November for the way Twitter’s layoffs were handled following its messy takeover. When wealth Some employees reportedly found out their jobs were cut after being unable to log into their company email or messaging system. Others learned of their fate through an (unsigned) email sent after the work day.
HR professionals didn’t mince words when considering the tactics. “I’ve worked in HR for over a decade and have seen many different sizes and types of companies that have dealt with layoffs,” one said tweeted. “The way I see it, Musk’s Twitter works terribly – legally, ethically and humanely. Angry and heartbreaking.”
On the other hand, a CEO received widespread criticism in August after he attached a teary-eyed selfie to a LinkedIn post describing his guilt over the firing of employees. Critics called it a PR stunt and accused him of fishing for sympathy.
The article has been updated with Goldman Sachs’ comment.
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