No One At Goldman Sachs To Go Thirsty (Except The Employees Getting Canned)


We've got good news and we've got bad news. The good news is that after violent protests by very angry employees, Goldman Sachs will be bringing back its soda and bottled water welfare program. The bad news is that in order to come up with the scratch to fund the charity program, they'll be firing an undisclosed number of employees from mortgage and investment banking units. Also: if David Viniar gets the boot, and we're not saying he is but if he does, there'll be free bacon, egg and cheese sandwiches for everyone, as well. A band of associates on the credit desk are apparently rallying around that cause by posting the flyer at left in every men's room at 85B (click to enlarge).
Bacon [aidsvertising]
Goldman Cuts More Jobs, Citing `Market Conditions' [Bloomberg]


Goldman Sachs Ditching Travel Expenses, Employees In Cost-Cutting Push

Don't like it? Cry Lloyd Blankfein a river. Oh, and there's more where that came from.

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Laying Off Employees Has Been Good For Goldman Sachs

Thanks to everyone who chipped in by cleaning out their desks.

Goldman Sachs Can Fix This

A week ago today, a man named Greg Smith resigned from Goldman Sachs. As a sort of exit interview, Smith explained his reasons for departing the firm in a New York Times Op-Ed entitled "Why I Am Leaving Goldman Sachs." The equity derivatives VP wrote that Goldman had "veered so far from the place I joined right out of college that I can no longer in good conscience say I identify with what it stands for." Smith went on to note that whereas the Goldman of today is "just about making money," the Goldman he knew as a young pup "revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients." It was a culture that made him "love working for the firm" and its absence had stripped him of "pride and belief" he once held in the place. While claiming that Goldman Sachs has become virtually unrecognizable from the institution founded by Marcus (Goldman) and Samuel (Sachs), which put clients ahead of its own interests, is hardly a new argument, there was something about Smith's words that gave readers a moment's pause. He was so deeply distraught over the differences between the Goldman of 2012 and the Goldman of 2000 (when he was hired) that suggested...more. That he'd seen things. Things that had made an imprint on his soul. Things that he couldn't forget. Things that he held up in his heart for how Goldman should be and things that made it all the more difficult to ignore when it failed to live up to that ideal. Things like this: