Goldman Sachs Settles Case Over Alleged Abuse of Intern
Goldman Sachs Settles Case Over Alleged Abuse of Intern https://www.bloomberg.com/news/articles/2021-10-0…
Man, I don't know what to think about this. On one hand, good on him for getting compensation for his injuries, but on the other hand, what the hell was going on over there in Goldman?
Anyone here got some perspective on this? Even from the Goldman side or just from a legal perspective?
I have to say, the bullet points in the article don’t make Goldman’s defense sound great (I realize that’s not exactly what they argued), I can just imagine the next info session:
student: I hear that you have an intense culture, and some offices have been accused of forced heavy drinking and even fights where senior employees have injured interns. Are you doing anything about that?
MD: umm, yeah, that’s why we have this sweet benefit called workers comp…
Unless I've read this wrong, that isn't even a real benefit.
They're legally required to provide workman comp in the State of California, so it really isn't a Goldman Specific benefit either.
Yes, I’m just joking. Workers comp is not a benefit provided by the firm.
Edit: for clarity, many (all?) states require firms to have workers comp insurance.
What the actual fuck. Holy shit. Are there more details around which group/division this was in? Jesus fucking Christ. I worked at Goldman for 4 years and this shit did not remotely occur in the 2 groups I spent time in.
From the article it seems like SF TMT, no? Also wasn’t there a suicide incident in SF TMT around this same time where an analyst unfortunately jumped off a building? Really unfortunate and sad stories coming out from that office/group that could have been prevented if the senior people were just decent human beings looking out to make sure there aren’t any asshole mid-levels that cross the line…
I heard SF TMT is also where all of GS-13 originated from, so there must be something seriously wrong with that group man
It is. Summered there and had a horrible experience - thought it was just me but it seems the issues are endemic among the group. Too many people drinking the Goldman koolaid to stand up for themselves / leave
That office seems to be out of control, clearly. These seniors are responsible for pushing analysts to the point that they had to group up together and make that industry rattling presentation. Even then, that was only possible because one of the kids had the literal chairman of TPG of a father to protect him and the others from any possible retaliation. Then now this abuse, and a suicide in 2015? Might be time for heads to roll. It's time to get a grip.
That's not even a joke; if you're pushing hardworking, diligent kids with bright futures to suicide, and generally abusing people to the degree described in the presentation, you need to go.
Yep that poor Indian kid that died was in my Analyst class in GS TMT. That’s so crazy. I know folks who used to be in the SF office in
TMT and West Region Advisory and they were all normal juniors. No one had these sorts of red flags. Idk how I missed this honestly this is fucking insane.
opened the article thinking it would be some soft kid who's suing because he got yelled at but what in the actual f**k.
Not defending sf tmt but afaik this was sf wealth management, not IBD.
Do you have a source on this?
EB>BB
Here's where I think GS is wrong, lmk what you think:Fairly sure these large banks have clauses (including morality, harassment, conduct, etc) that dictate how you act outside of work, and have SPECIFIC language referencing 'after work' social events to be treated as 'STILL AT WORK'.Might depend on the legality of the company (I've seen other BB have the after work thing still counts as work) but how can they dictate that at after work events lots of company rules apply, you need to conduct yourself like at work etc and then not measure up to the flip side that you're liable for things that happen if not?
Essentially they shouldn’t be able to have it both ways.
The group wasn't banking it was wealth management...
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