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It’s always sad when veteran employees with spouses/children/golf club memberships to pay for* are shown the door for no good reason (other than the market being in the toilet), but what of the neophytes, who haven’t even been around long enough to have their spirits and wills to live crushed? We’re told that eighty salespeople from Goldman’s Class of 2007, hired just two months ago, were notified yesterday that the firm is “reevaluating” their (collective) role.
The disposables were then given the option of being transferred into operations now or biding their time for the next three months waiting for an as-yet-undecided fate, which could very well include being “let go.” If this is the kind of crap deal being offered to the Mini-Masters of the Universe, what do you think is being proffered to the youth of, say, Bear Stearns?
*By which we do not at all mean to imply James Cayne should be laid off. You came to that conclusion on your own, don't put that on us.