– Goldman Sachs CEO Wishes He Fired Workers Earlier:
Goldman Sachs CEO David Solomon gathered his top executives in a closed-door meeting last week in Miami. The details of the meeting were leaked to Financial Times. Apparently, Solomon acknowledged his plan to lay off thousands of employees should’ve been enacted sooner.
“As the environment was growing more complicated in Q2 of last year, every bone in my body believed we should be much more aggressive in slowing hiring and reducing headcount,” Solomon said, according to one person with direct knowledge of what was said at the closed event.
Goldman fired 3,200 employees, or about 6.5% of its headcount last month. Many layoffs were in the investment bank’s core trading and banking units. The firings were the largest in its operational history.
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