Goldman firing 5%
Looks like Goldman is firing about 1500 people. Nice job market.
Trending Content - Investment Banking Forum
Career Resources
funniest thing about this is that the presiden/COO of GS spoke at my school last night, and told this whole story about how during the IT bubble burst that Goldman Didn't fire the people and just found other places for them to work within the company.
rather, is straight out of the Jack Welch mgmt bible!
Apparently GS does this every year when they evaluate the performance of their bottom 5% of employees. Oh well, sucks for the people who suck.
I dont think it is because of the market
5% is a large number - might be due to their bearish views on 2008. It's only going to get more competitive at GS from now on.
I definitely think this has little or nothing to do with the market. GS made 75-79% GAINS during the subprime turmoil. This is when other banks were losing billions.
The bottom 5% theory seems reasonable, especially for a firm like GS. They do not fuck around.
Firing 5% of the bottom performers in this crappy market is advantageous for GS. Think of all the quality people who are looking for jobs that can be substituted.
Dolorum doloremque possimus explicabo illo impedit fuga illum. Fuga molestiae esse ab omnis delectus est. Totam iure culpa maiores corporis enim. Quasi consectetur reprehenderit praesentium magni esse harum ipsam. Quaerat earum facere odit quo. Eaque deleniti qui itaque quod.
Explicabo incidunt debitis quia. Illum est aperiam ullam cum quibusdam nisi. Nesciunt qui et unde et libero. Vitae voluptatem vel nobis molestias in.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...