Skip to main content

Goldman Sachs Exec Suggests Employees Asks Themselves If They're Highly Replaceable

Take a long look in the mirror.
  • Author:
  • Updated:

And, if upon taking that long look in the mirror and posing that question, the answer you come up with is "Yeah, pretty damn replaceable," don't come crying to Goldman partner Marty Chavez.

Mr. Chavez, who was promoted just over two years ago to oversee the company’s 9,000 or so computer engineers — nearly a third of the staff — is pushing the 147-year-old company to, among other things, share more of its data and software with clients. His centerpiece project, Marquee, gives clients access to sophisticated trading data previously available only by phoning a Goldman employee...Some colleagues complain that the company is handing out valuable information while paving the way for job cuts. Mr. Chavez has responded forcefully, according to people who witnessed some of these conversations. “He basically said something to the effect of: ‘If your job is a purely manual job and you are just clicking buttons, you should look to upgrade your skills set now,’” said Adam Korn, a trading executive. “He was pretty direct.”

A Gay, Latino Partner Tests Goldman’s Button-Down Culture [Dealbook]


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.

Getty Images

Laying Off Employees Has Been Good For Goldman Sachs

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

Sad about it. Getty Images.

Layoffs Watch '16: Goldman Sachs

The House of Lloyd has bid a buncha employees adieu.

Layoffs Watch '16: Goldman Sachs

The House of Lloyd is making cuts.

Hard on him that it is on you. (Getty Images)

Layoffs Watch '16: Goldman Sachs

According to Charlie Gasparino, the House of Lloyd is preparing big cuts.

getty images

Layoffs Watch '16: Goldman Sachs Is Lightening Its Load In Asia

The House of Lloyd plans to divest itself of a whole buncha investment bankers.