#GoldmanSachs #layoffs #yahoofinance
Semafor Business and Finance Editor Liz Hoffman joins Yahoo Finance Live to discuss the anxieties surrounding the banking industry as Goldman Sachs announces layoffs in 2023, David Solomon’s performance as CEO, and the outlook for executive bonuses.
Don’t Miss: Valley of Hype: The culture that built Elizabeth Holmes
WATCH HERE:
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The same Goldman Sachs executives who are “Doing God’s work” according to them…
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Oh so this is a bot/ spam comment and thread. I see you 👀
@Campin_Sasquatch Yeah. Who else would be commenting on this establishment propaganda video? Even the views are fake bot generated
2020 was not insensitive. They got paid not to fire people.
the real pandemic crash has been set off after being delayed 2 years got my popcorn ready how about you?
Bank of 🇺🇲 is hiring Global Financing Analyst’s so is Wells Fargo. 🤔
The FED should be happier now, they want people to lose their jobs, SMh
Well Fed does not want bankers to lose jobs. They want normies non bankers to lose jobs
*yawn, poor babies
They are not poor, citizen
U can be sure the Biden economy stinks when Jewish bankers r getting laid off. I am not making light of this. These r people with families that r getting the rug pulled.
This is gonna get nasty for everyone quick
Why?
This is possibly just the beginning.
What about “pay cuts” from all their execs.
How much does their CEO make? What/s the average pay of their executives?
Not going to happen, the greed is strong in these banks.
fffaaaaking luv y’all at yahoo finance news keep doing your thang 21 and you all are sooo soft friendly faces /// i am worried you are to calm looking what are you brewing in your mind Afghan girls
Yet executives never get cut or take a penny less
They better produce that HYSA with Apple and not lay off that staff within the Consumer business! And it better not be some measly 2.5% with interest rates higher; gimme at least 3%! 😆
Please consider hiring someone to oversee your comment section. You’re getting spammed by scammers.
Now, can they finally fire George Santos?
Who … ?
I wonder if that will include George Santos?
that is varkin’ HILARIOUS!!
Yeah…..laying off the risk management unit before they blow the whistle on you bankster execs for all your reckless profiteering.
finally these fking layoffs going beyond just tech.
I HAVE SEEN MYSELF OR THROUGH seunghuichokim UP-CLOSE AND INSIDE 6-9 DIFFERENT FINANCIAL INSTITUTIONS AND OF THOSE ~5-7 ARE ‘BIG BANKS’ AND ONE OF THEM IS gs. IM GUNNA BE UH- I DON’T DESPISE? I DON’T HATE? THE COMPANY? BUT I WILL TELL YOU SOME THINGS IN! LIGHT OF! COMPARING TO THE OTHER 5-7. I WILL MAKE A GOOD DISCLOSURE HERE FIRST THAT THE ANALOGY I WOULD SAY OF THE ROLE WOULD BE LIKE IF gs WAS A HOSPITAL- IN FACT AND INDEED, ‘THE MOST PRESTIGIOUS HOSPITAL (FOR NOW?)’ THEN shck’s EXPERIENCEWAS ‘THE BILLING DEPARTMENT BACK OFFICE’. SO, I GUESS YOU CAN TECHNICALLY SAY: “dude, shut up. you were in the back office” BUT THERE ARE THINGS THAT ARE COMPANYWIDE:
HERE WE GO, READY? I WILL SAY THIS VERY SLOWLY AND CLEARLY- SO READ IT SLOWLY AND CLEARLY, READY?
‘goldman sachs has the worst.”
“goldman sachs has the worst technology, technology support staff, and is also by far the most inefficient company of 5-7”,
NOW, I ALREADY KNOW WHAT YOU’RE DOING, YOU’RE GOING (oh, how do you reconcile that with them being the #1 place?) LOOK, IM NOT SO SURE, MAYBE THERE IS SOME ABILITY FOR THE ‘SURGEONS’ TO DO THEIR JOB EVEN THOUGH THE back office AND TECHNOLOGY ARE BY FAR WORST? BUT I CAN SEE HOW FROM A CLIENT STANDPOINT YOU COULD HAVE CLIENTS LITERALLY CEASING TO DO BUSINESS WITH THE COMPANY BECAUSE THEY’RE EXTREMELY INEFFICIENT AND HAVE POOR SYSTEMS-
LET ME GIVE YOU SOME SUBSTANCE, OK? WHEN I CALL citibank, 90% OF THE TIME I HEAR SOMEONE FROM INDIA ( NO OFFENSE )WITH A THICK UN-UNDERSNTABLE ACCENT
90% OF THE TIME WHEN I CALL BOFA? RIGHT? AN AMERICAN-ENGLISH PERSON PICKS UP THE PHONE. THIS IS WHY I JUST DON’T LIKE DEALING WITH shittibank, THEY FIRED inept bank ceo (AND BTW, IF YOU GET FIRED FROM A bank ceo job, THE EASIEST PLACE/INDUSTRY TO BE A CEO, YOU’RE ON A HUMAN LEVEL PROBABLY A FUCKUP; I MEAN YOU DON’T GET PAID A LOT YOU GET A FEW MILLIONS BEFORE TAX AND LIKELY 50+ YEARS OLD, BUT LIKE- ANYWAYS-)
SO YOU’VE GOT VERY VERY- AND I WANNA BE CLEAR: HARDWARE IS SOLID; BUT THE SOFTWARE, AGAIN, ~2-3 OF THE 5-7 WERE NOT GOOD, BUT goldman sachs HAD AN ABSOLUTE BONKERS UNACCEPTABLE UN! ACCEPTABLE PROBLEM. AND THIS IS THE UM. THIS IS WHERE I NEED TO BE JUDGMENTAL ABOUT THE COMPANY- LIKE IF I WERE EXISTING AND THEY WERE TRYING TO PITCH HARD TO ME LIKE AN ELON MUSK GETS PITCHES WHY I WOULD PROBABLY TURN THEM DOWN-
WHEN YOU ACTUALLY WORK-PROFESSIONAL ENGAGE WITH THE TEAM – NOT IN THE USA!!! NOT IN THE USA!!! BUT IN SOME bengaluru(?) PLACE IN INDIA, THESE PPL DO NOT WORK- LIKE THEY ALMOST TROLL YOU, THEY ALMOST TROLL YOU AND PURPOSELY DO EVERYTHING THEY CAN TO WASTE TIME AND KICK THE CAN DOWN THE ROAD. IF I HAD TO GIVE A METRIC FOR technology IN A BROAD SENSE: GS GETS AN ‘F’
SECOND ISSUE: MASSIVE MASSIVE EXTREME INEFFICIENCY PROBLEMS. LET ME TRY TO EXPLAIN AGAIN: IF YOU ARE WORKING AT A HOSPITAL AS I SAID, AND YOU HAVE PEOPLE COMING IN AT 11AM (“wfh SINCE 8?) AND THEN THEY’RE STILL EXPECTED TO BE THERE AT 7PM, SOMEONE NEEDS TO BE FIRED
SOMEONE NEEDS TO BE FIRED.
THINK ABOUT A HOSPITAL: YOU HAVE ORTHOPEDIC SURGEONS, PAs, REGISTERED NURSES, PEDIATRIC DOCTORS, MEDICAL ASSISTANTS
ALLLLLLLLLLLLLL THE WAYYY AT THE BOTTOM (I HATE TO SOUND HIERARCHICAL LIKE THIS BUT IM TRYING TO MAKE A POINT) YOU HAVE THE “ok today’s visit will be $20. here’s a patient form please complete it and return it where I’ve highlighted”
THOSE!!! PPL!! SHOULD NOT BE “working” MORE HOURS THAN THE SURGEON- NOW, AGAIN, LET ME PROVIDE TO YOU SUBSTANCE, BC THE EXTREME INEFFICIENCIES (NOW IN FAIRNESS IF YOU ARE IN operations IT’S LIKELY BC YOU DID NOT DO WELL IN SCHOOL- THE ONES WHO GO TO WHARTON OR HARVARD ETC. ETC. WITH THEIR EFFICIENT BRAINS BECOME ‘SURGEONS’, NOT ‘billing department associate’ MAKE SENSE?
THERE IS A CULTURAL THING- YES: CULTURAL: THING CALLED ‘CATCH UPS’- THIS IS A THING THAT managers USE TO ‘CATCH UP’ WITH THEIR EMPLOYEES. NOW, FIRST OF ALL, THERE ARE MIDYEAR REVIEWS AND END YEAR REVIEWS; I CAN SEE HOW IT’S GOOD TO MAINTAIN CONVERSATIONS INBETWEEN, BUT MANY OF THESE billing dept ppl WHO THINK THEY’RE NEUROSURGEON CHIEFS, END UP DOING THESE ONCE EVERY WEEK OR TWO WEEKS, AND 95% IS JUST SMALL TALK AND “yeah make sure you do back office stuff more attentively. and make sure you ask questions if you have questions” LIKE BRAINDEAD LOW IQ STUFF- LIKE, WHAT JUST HAPPENED? small talk AND cliched wasting of time?
PROCESSES ARE F- TOO-
THE BOTTOM LINE IS: IF PLAGUED WITH INEFFICIENCIES (F) AND! THE TECHNOLOGY IS AN F-? YOU’VE GOT BIG PROBLEMS YOU’VE GOT BIG! PROBLEMS. gs IS LIKE SOUTHWEST WHO IS NOW SUFFERING BC THEY HAVE OUTDATED TECHNOLOGY AND NOW THEIR CUSTOMERS ARE SCREAMING AT THEM AND THEY’RE BEING BRANDED INTO BEING THE chinese/koreans OF AIRLINES (DEAD-LAST)
Fire the CEO
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Hahaha shet goes around ….
I have a fair number of friends who’ve worked at Goldman. Almost every one of them has regretted it.
Goldman doesn’t like to be burdened with mediocrity; your friends might be better suited at a lower tier like Deutsche or HSBC.
@Unknown Unknown Give me a break. It’s been many years since Goldman was the clear best in anything. They’ve lost their edge but still insist on working you to death. No thanks.
Good
Every woke company behind Biden has been cut to less than 2020. Why did they do it? I am confused.
Guess those yacht sales will be dipping 😄
They are “riled up” because they are about to get a fat bonus
Why the hell did they get into consumer which is dragging down their earnings? Shouldn’t the CEO and all of management be fired for this mistake? If you don’t do it creates bad incentives – there are no consequences for CEO stupidity.
they saw a few fintechs as competition
mass layoff in the financial service industry is coming.
Cuts will be coming from Marcus and ops side, and IBD. NYC will most likely see the most cut in IBD, SLC and Draper for Marcus and Ops.
Buckle up for the 2023-2025 recession
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I met Mrs Charlotte Hearne last year for the first time at a conference in London,
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Yes I can believe that, I’m a testimony,
It was so sad after receiving the first pay knowing I in-vested so low with fear.
EL FINAL DE TVE YA SE DECIDIO.
i do not get layoffs. you spend money and time to train workers and then you let them go. and you also break teams which cuts productivity. how about make a new division and move them there to work on something new?
perhaps the folks they hired are not bringing in business value… that’s the case at Salesforce, and ‘day in the life’ videos from the tech industry reveal the level of waste… shareholders want business value and they deserve it
This is BS. They’re fine. They’re all fine. Why are all these “titan of finance” (and I’m including the Federal Reserve, here) trying to CREATE a recession, where none exists. Maybe just STEP OFF and stop trying to manipulate everything?
Talk about what it REALLY is – greed. For example, inflation is BS. 50% of that is companies with monopolistic control over their market segment, engaging in PRICE GOUGING because they’re largely unregulated and have no competition (or ethics) so they think they can get away with it. Goldman is fundamentally no different. They want to bump their stock price half a percentage point, so to make their balance sheet look like it’s in a bigger growth state than it is, they’re going to ruin 4,000 lives, with layoffs that reduce their “expenditures”. Workers are just on the wrong side of the ledger, as a cost, snd their “leadership” doesn’t know how to make more outsized profits.
He’s probably making job cuts as he gives himself a bigger bonus what a nice scumbag…
Unemployment pays about $250 dollars per week. They will be fine. Now they all can get jobs WFH.
very intelligent reporter
Watch come 2024 when the market has recovered from 2022, all these companies will scramble to rehire all this talent
Global Depression on the way.
Start with execs first