How Goldman Sachs laid off 3,000 workers in one day

Laid-off bankers unhappy with Goldman Sachs’ use of gruesome and insidious tactics BLOOD OF THE WEEK The Post learned that it claimed to have over 3,000 employees.

Insider Claims Wall Street Giant – Its Wednesday Layoffs Called “the day of the dismantling of David” After CEO David Solomon — Email calendar invitations inviting targeted employees to a fake business “meeting” at their New York headquarters.

But when the employees arrived in the conference room (many of whom were due to attend a meeting at 7:30 a.m. on Wednesday), they were greeted by the head of the team and told they were being canned. The manager solemnly watched the situation.

“He was here early for a meeting and was told the news,” one source said, recounting the sad story of a colleague who was fired. was put in.”

“The managers were sorry to do this, but their hands were forced and they wished him the best of luck,” an insider told the Post.

Another employee was told to arrive at 7:30 a.m. for a call with a Goldman counterpart in the Asia-Pacific region, while employees in other regions are usually “off hours.” That’s why he didn’t ask the earlier meeting, another source said.

Dismissed employees could choose to leave the office immediately or wait for their colleagues to arrive and say goodbye. Most of the casualties chose to evacuate the building after the massive waste disposal that took place before 9am. Colleagues who filtered later were left confused as to what had happened.

In fact, the sober efficiency of the procedure became more chaotic as many managers were not clear about next steps, such as when their medical insurance coverage would end or how much severance pay their laid-off employees would receive. I feel like I did.

That’s partly because HR was one of the departments hit hardest by layoffs, and it lacked the resources to properly manage meetings, insiders said.

“When he questioned…they didn’t know the details, they checked his personal cell phone and email and asked for someone to reply to him later,” the source added. The epitome of Goldman’s Human Resources…they’re a sloppy mess about managing everything.”

A Goldman spokesman denied that the layoffs affected communication of the layoffs and refuted the notion that the layoffs were a surprise. Solomon warned The cuts have been made over the past few months and the company said it will begin on Wednesday.

“We know this is a difficult time for people leaving the company. We appreciate everyone’s contributions and are providing support to ease their transition. .

Another source said Goldman has been more transparent with its managing director and vice president, warning them that they could be fired in the weeks before a final decision is made.

Higher-level Goldmanites were less sympathetic to those who were caught off-guard by being fired after receiving fraudulent calendar invitations. He told The Post that it’s “pretty standard” to contact someone one-on-one and then send someone a calendar invite as a ploy to fire them.

“If anyone didn’t see it coming…it’s their responsibility,” the employee added.

Younger employees in other industries seemed unaware that Goldman was using a common tactic to fire employees.

A frantic employee at the data company Dremio used his company email account to post on a corporate bulletin board, Blind, which asks where users work, and among his colleagues received a 15-minute invitation from his boss. They were the only ones who received it. meeting.

“I’m very worried…how likely are you to be fired?” the employee asked.

An experienced employee said, “Yes, layoffs. The decision has already been made.”

Another blind user said, “You’ve been fired. Clean individuals from laptops. Collect anything you want to keep, like contact information for reference.”

Since then, no Dremio employee has posted an update on their employment status.