• 25 Aug 2011 at 9:03 AM

London-Based Goldman Sachs Employees Learn Art Of Reading The Fine Print

By Bess Levin

Goldman Sachs International has triggered a clause inserted into the employment contracts of a group of its London-based investment bankers in mid-2009 that will result in them having to take a pay cut, Financial News has learned. A number of staff across the investment bank’s European division, which is based in London, have been told this summer that their base salaries will be cut, a source with knowledge of the situation told Financial News. [FN/WSJ]

Comments (11)

  1. 1
    Posted by Guest | August 25, 2011 at 10:16 AM

    I thought we were sacrificing the plants in favor my salary.

    - Pissed off GS Banker

  2. 2
    Posted by Alpha_Bets | August 25, 2011 at 10:18 AM

    The tip juuuust got me O'Dell.

  3. 3
    Posted by GS Receptionist | August 25, 2011 at 10:21 AM

    Was it hedges or hedgies that were getting clipped?

  4. 4
    Posted by Cut Me | August 25, 2011 at 10:28 AM

    Fuck! Why didn't we do that?
    -Oswald Grübel

  5. 5
    Posted by 46K Salary | August 25, 2011 at 10:48 AM

    Ha, they should come join us, we're raking it in!

    UBS MD

  6. 6
    Posted by Quitting GS | August 25, 2011 at 11:03 AM

    I can do better, European banking is where its at!

  7. 7
    Posted by Covey 01 | August 25, 2011 at 11:11 AM

    Even with a pay cut, the boys will still be able to have a nice night out on the town and I shan't feel sorrow for them.

  8. 8
    Posted by GS Ops | August 25, 2011 at 11:34 AM

    So much for the topless Czech cleaners…

  9. 9
    Posted by Guest | August 25, 2011 at 11:35 AM

    Time for everyone at GS inside and out to lawyer-up!

  10. 10
    Posted by Stranger Danger | August 25, 2011 at 12:22 PM

    What is this "shan't" of which you speak, stranger?

  11. 11
    Posted by VonSloneker | August 25, 2011 at 3:48 PM

    Lawyered!

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