It's nothing personal: On Wall Street, layoffs are a way of life

Emma Alexander was recently laid off from Goldman Sachs, along with over 3,000 other employees. Although the layoffs were unusually large this year, they are an ever-lurking prospect for people who work in finance. (Allison V. Smith)

A few days before Goldman Sachs laid off more than 3,000 employees, Emma Alexander and her coworkers were feeling nervous.

News that the layoffs were coming had already leaked, and anxiety across Goldman's global offices was high.