Fired Goldman Sachs workers stumbled out in a daze from the firm’s Manhattan headquarters Wednesday as CEO David Solomon brought down the axe on thousands of employees.
One group of analysts – all of them clad in high-end Canada Goose puffer coats — refused to answer a Post reporter’s questions before the shell-shocked troop scurried away from the glass skyscraper at 200 West Street.
The mood wasn’t much better inside the well-heeled offices of the prestigious Wall Street firm, insiders told The Post.
“I have never felt it so eerie at 200 West,” said one worker who survived the chop. “This morning was quieter than remote work during the pandemic.”
As The Post previously reported, junior employees had dubbed Solomon’s vow to fire 3,200 workers “David’s Demolition Day” – with some now calling Wednesday’s bloodbath “D-Day.”
The cullings, the first at the firm since before the pandemic, began shortly after bankers arrived at their desks at 8 am, insiders told The Post. Employee badges were immediately deactivated and the workers escorted out of the building, which was ringed by roughly a dozen guards standing by the entrance.
Many fired workers left with blank stares, while others walked out harried and deep in conversation on their cell phones.
One stoic employee, clad in a button-down and fleece jacket, when asked about the ongoing layoffs, replied: “I don’t know what you’re talking about.”
Another 20-something analyst turned and walked in the opposite direction.
The Post could not confirm the total number of employees fired, but insiders said the troubled consumer banking division — which has never made a profit — was hit particularly hard. These insiders add that no division was spared and that employees of all levels, ranging from analysts to managing director, were let go.
Even employees who had been recently promoted were axed, according to popular financial account Litquidity.
“We know this is a difficult time for people leaving the firm. We’re grateful for all our people’s contributions, and we’re providing support to ease their transitions,” a spokesman for Goldman told The Post. “Our focus now is to appropriately size the firm for the opportunities ahead of us in a challenging macroeconomic environment.”
Ahead of the layoffs, managers were given a handbook by Human Capital Management — the firm’s human resources department — that advised them on how best to fire employees, sources told The Post. But many fired workers were left in the dark about their severance packages, a source said.
“[There is] a ton of disconnect and discrepancy on some people getting severance,” one employee told The Post.
Many managing directors were told they’d get three or more months pay, while junior employees were told they would receive two months or less, the source said. Starting salaries for first-years begin at $110,000.
In New York, employers are required to provide 90 days of severance.
Aside from New York, workers at Goldman offices in San Francisco, Dallas, Hong Kong and London were also kicked to the curb. Sources told The Post layoffs at the firm’s Paris office have been postponed until Thursday. Goldman had nearly 50,000 workers before “D-Day.”
Employees who survived Solomon’s wrath remain terrified, insiders told The Post. One employee who spoke on the condition of anonymity said part of the fear is that Wednesday’s cuts may just be the beginning.
There’s “no relief. Rumor is there is more to come … apparently it’s not all happening today,” the employee said.
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