Goldman Sachs Layoffs: ‘3,000 Employees Fired In a Day After a Meeting Was Called At 7.30 Am’ According to Reports

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Goldman Sachs Layoffs: Goldman Sachs, an American multinational investment bank and financial services company, laid off approximately 3,000 employees in one day after summoning them to its headquarters in New York for a meeting with CEO David Solomon.

According to reports, when the employees arrived at 7.30 a.m. for the meetings, they were greeted by the team’s leader, who informed them that they had been fired while their manager observed the proceedings.

“He got here early for the meeting and was told the news, “A Goldman Sachs employee said of a colleague fired from the company. Under pretenses, the meeting was scheduled on his calendar. Managers apologized, but their hand was forced, and they wished him the best of luck.”

The Overview

Another global financial services firm employee said he was told to arrive at 7.30 a.m. for a call with Goldman counterparts in the Asia-Pacific region and didn’t question the early meeting since those with other areas are typical during “off-hours.”

Employees who were affected were given the option of leaving the office immediately or waiting for colleagues to arrive so they could say their goodbyes. However, most of the fired employees chose to leave the building following a wave of axing that occurred before 9 a.m., leaving other employees perplexed about what had happened when their colleagues did not return to their workstations, according to the New York Post.

“We know this is a difficult time for people leaving the firm,” said Tony Fratto, Global Head of Communication. We appreciate our employees’ contributions and are assisting them with their transitions.”

Last Words

Earlier this month, it was reported that Goldman Sachs would begin layoffs affecting over 3,200 employees, or about 6.5 percent of its workforce. Following coronavirus lockdowns, the world’s central investment banks experienced a surge in mergers and acquisitions in 2021 and early 2022.

However, as interest rates have risen and company valuations have plummeted, the number of takeovers has decreased significantly.