• 14 Oct 2011 at 1:44 PM

Layoffs Watch ’11: Goldman Sachs

Apparently the previously suggested cuts have begun.

FYI: Layoffs in GS IBD started slowly and quietly yesterday…some in London and SF and in New York…so far it’s ‪senior associate levels‬ that have been affected.

36 comments (hidden to protect delicate sensibilities)
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Comments (36)

  1. Posted by The Goldman Way | October 14, 2011 at 1:57 PM

    Slowly and Quietly? Very considerate of them. I'm proud that they are handling this with class.

  2. Posted by Guest_of_Honor | October 14, 2011 at 2:13 PM

    If we start firing bankers the terrorists (OWS) have already won. :(

  3. Posted by Hummus | October 14, 2011 at 2:18 PM

    If Goldman Sachs doesn't want your services doing god's work, then it is their loss.

    Screw them.

    We got signs waiting to be made.

    Come on down to OWS

  4. Posted by T.M.E.B. | October 14, 2011 at 2:21 PM

    Sign, Sign – everywhere a sign
    Blockin' out the scenery, breakin' my mind!
    Do this, don't do that, can't you read the si-IIIIIGN??

  5. Posted by Guest | October 14, 2011 at 2:24 PM

    There have been layoffs in IMD too. Several members of the quant team have been fired.

  6. Posted by CurrencyTrader | October 14, 2011 at 2:37 PM

    Here ye Here ye all Goldman employees that have been laid off,

    Join the UBS team where we provide a generous package of:

    1) 1 Honda Civic, emerald colored, only 70K miles. Great for driving around with your buddies to Applebees!

    2) A generous associate investment banking starting salary of $36K a year. This includes an annual bonus of $300 (if performance merits of course!) plus a $50 gift certificate to…You guessed it – APPLEBEES!

    3) Every 5th oil change on your civic is on THE HOUSE!

    4) We provide you with a discounted studio apartment located near UBS campus. There is no kitchen but no problem, there is a hot plate plugged into the bathroom!

    See you at our recruiting event at Devry University!!

    -UBS HR

  7. Posted by Guest | October 14, 2011 at 2:38 PM

    Bess are you going to poach GS talent again?

  8. Posted by Guest | October 14, 2011 at 2:42 PM

    Well played.

  9. Posted by Guest | October 14, 2011 at 2:45 PM

    F for Effort, F for Content and F for Execution

  10. Posted by Sean Connery | October 14, 2011 at 2:46 PM

    You can't even make your own signs?

  11. Posted by Guest | October 14, 2011 at 2:57 PM

    This is the worst comment beginning with the letter F ever!

  12. Posted by Sean Connery | October 14, 2011 at 2:57 PM

    Poach? How about swap instead?
    Sorry Matt

  13. Posted by Guest | October 14, 2011 at 2:58 PM

    I used to be at Goldman. But then I lost my job when a horrible car accident left me without the ability to speak or control my bowels.

    – UBS MD

  14. Posted by FKApmco | October 14, 2011 at 3:04 PM

    Uncalled for. Take it back or I will come down to where you work and kick you in the balls…for free.

  15. Posted by Eggplant Parm | October 14, 2011 at 3:06 PM

    Goldman Senior Associate = UBS Global Head

  16. Posted by merkin_capital | October 14, 2011 at 3:10 PM

    Are you guys hiring? I have experience. What's your email? Never mind, I can find it.

    -ZK

  17. Posted by Guest | October 14, 2011 at 3:21 PM

    Hope they get rid of drones from back office in Jersey City. Sick of them.

  18. Posted by Mexi_Cant | October 14, 2011 at 3:23 PM

    After my 3rd redbull vodka, I just realized something. The prosectors say that insider trading is not a victimless crime, that the company who's shares are traded gets hurt…so Goldman is a mother fucking victim! Why ain't nobody feeling sorry for goldman, Raj hurt them.

  19. Posted by guest | October 14, 2011 at 3:42 PM

    Yeah, but the pay cut would suck

  20. Posted by Guest | October 14, 2011 at 3:57 PM

    I wish I could get fired from Goldman.

    -UBS Rainmaker

  21. Posted by deal_mkr | October 14, 2011 at 4:24 PM

    i see the GS but im not sure i see the "talent"

  22. Posted by Guest | October 14, 2011 at 4:32 PM

    I wish my offices were downtown so I could throw caviar at you from my corner office.

  23. Posted by wahoo | October 14, 2011 at 4:55 PM

    Let them eat Beluga!

    – Lloyd

  24. Posted by Guesty Puller | October 14, 2011 at 5:16 PM

    I will proofread your signs, preferably at 3AM after 39 straight hours of teh same work. If I make an error you can beat me about the head, neck and face with your signs. My fee is $150K base, $500K target bonus.
    -Former GS Associate

  25. Posted by Sean Connery | October 14, 2011 at 5:33 PM

    Don't threaten me with a good time

  26. Posted by Roger Moore | October 14, 2011 at 5:51 PM

    Didn't know he had a job.

  27. Posted by Guest | October 14, 2011 at 7:53 PM

    This is the plan. The total Layoffs in 2011 at Goldman will have aggregate salaries equal to the desired expenditure on 2011 bonuses and cost of living increases for those remaining.

  28. Posted by Danker_Banker | October 14, 2011 at 8:00 PM

    "teh same work"??? I can see why you're "Former"

  29. Posted by Elie | October 14, 2011 at 11:47 PM

    Um, DUH

    –LEH comp quant

  30. Posted by sucker | November 3, 2011 at 7:38 PM

    Goldman prides itself on their culture. LOYALTY. How is this been translated to the new hires???

  31. Posted by sucker | November 3, 2011 at 7:41 PM

    NO CLASS

  32. Posted by SUCKER | November 3, 2011 at 7:56 PM

    Goldman got rid of most of all ops people with experience, without any remorse, these people worked their ass off, sacrifice their living. They build this CO. What did they did get in return? Nothing!!! Just got the top more wealth, we got SCREWED. THE UNEMPLOYMENT LINE. IS REALLY UNFAIR.!!!

  33. Posted by #occupythat | November 9, 2011 at 10:11 PM

    theyre better off… who wants to work at one of americas most disliked firms?

  34. Posted by I'M one of the 53% | December 1, 2011 at 6:02 AM

    I see an employment arbitrage opportunity here! As the USA moves away from capitalism to unadulterated communism these GS ASSHOLES can go to work in the SEC for 10-20% of their former salaries. The NKI for terminated GS swarf as the Kommisars party is now looking for friends from the street. For all you ex-GS people out there don't see this as a loss, see it as an opportunity! Pat yourself on the back for a job well done in what is essentially a zero sum game………You did your job too well! Now the customers have had to sink all their yachts and have come to the realization that your doing God's work.

  35. Posted by Guest | December 5, 2011 at 8:35 PM

    Sorry to hear about new round of layoffs. No matter where you work, getting laid off sucks. Getting laid off during the holiday season really sucks.

  36. Posted by guest | December 8, 2011 at 12:44 AM

    GS is the biggest piece of shit firm on the street. They laid off one of my boys a few months back on the day before his wedding. Another guy I know was laid off from GS just weeks after his mother passed away after a bout with cancer. I understand that WS is a cutt-throat culture but things like this have a tendency to come back and bite you. There used to be a time when saying you worked for GS meant something….that day is long gone. Now the firm has been knocked off its pedastool and it couldn't of happened to worse people.