It’s a tense time to be a staffer at Goldman Sachs.
The bank’s infamously tough yearly performance reviews are looming. CEO David Solomon has publicly mused about the size of the storied firm’s staffing “footprint.” The huge reorganization that Solomon unveiled earlier this fall will be implemented later this month. And Solomon is still fighting to force employees back to their desks. Speaking at a Goldman financial services conference on Dec. 6, Solomon said the U.S. could face a recession in 2023 and that job cuts shouldn’t be a surprise. “Naturally compensation will be lower…We will pay people based on the overall performance of the firm,” Solomon said.
