GS CFO noted an expected $150M severance charge in Q2 on the recent Q1 earnings call. from recent articles, most folks are expecting layoffs to happen in May. what is the likelihood it happens in May vs. June given this timing is unprecedented for GS?
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Heard it’s happening / already happened
Interesting. It might be happening at different times across divisions, but at the scale they're projecting, you'd think most would happen on one particular day
Bump
Heard today
Details??
Absolute bloodbath for VPs
What groups
details?
Also interested in groups and at what levels if anyone able to confirm further
Happened yesterday. 2 associates in the financing group
Which group?
Time to polish that resume up
any updates?
bumpy
bump
They already happened this past week and were very quiet. Only one person in my coverage group.
Which groups were impacted (is it IBD classic)?
Yes
Heard it last Tuesday — NY
Heard there were layoffs this week
FIG team affected...
When?
Bloodbath in certain classic IBD groups
Which ones?
FIG
Wouldn't be surprised if TMT and FIG people were shafted. Those groups are filled with useless diversity bankers
Which groups at GS have proportionally the least diversity bankers?
Maybe IND? But even that has a good share of DEI. Though of course not as bad as at FIG/TMT. Like over 50% of those groups are diversity from UG or MBA associates
Any layoffs this month?
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