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(Yahoo)   Goldman Sachs to lay off up to 4,000 people. Season's Greetings   (finance.yahoo.com) divider line
23
    More: Fail, Morgan Stanley, Investment banks, Goldman Sachs, Goldman Sachs Group Inc, Subprime mortgage crisis, Wall Street bank struggles, investment bank, New York City  
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368 clicks; posted to Business » on 16 Dec 2022 at 10:50 AM (14 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



23 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
Tyrone Slothrop [TotalFark]
2022-12-16 10:55:26 AM  
I've been assured we're no where near a recession. All the mass layoffs are just a meaningless blip.
 
greatgodyoshi [BareFark]
2022-12-16 11:03:03 AM  
List of "low performers". Just once, I want a manager to put the CEO and all the VPs on a list, just for giggles.
 
shinji3i
2022-12-16 11:06:03 AM  

Tyrone Slothrop: I've been assured we're no where near a recession. All the mass layoffs are just a meaningless blip.

after adding significant numbers of staff during the pandemic. Headcount will remain above pre-pandemic levels, the source said.

Investment banks had a blockbuster 2021, but have seen fewer deals this year as companies halted buyouts and listings as interest rates rose.


So they hired a lot of people because interest rates were nonexistant during COVID so they wanted to sell more loans to businesses. Interest rates go back to pre pandemic levels and then their staffing levels follow. Such recession, much no jobs.
 
OhioUGrad
2022-12-16 11:10:59 AM  
It's almost as if companies (tech and finance) coupled with the Fed and some other "economists" and corporations are TRYING to force a recession to claw back all the advantages that workers have gotten since COVID like increased hourly rates/salaries because of competition and those pesky perks like work from home and what not.

Those silly upitty workers actually having some advantages over the companies and their slave wages and conditions.

/prove me wrong
 
SpecialSnowFlake
2022-12-16 11:22:42 AM  
media4.giphy.comView Full Size
 
theresnothinglft
2022-12-16 11:26:40 AM  
Wonder if someone submitted this one with
"Goldman Sacks 4k"
 
OptionC [TotalFark]
2022-12-16 11:41:16 AM  
It sounds like they are winding down their bizarrely named consumer bank, Marcus.

There were also rumors that they were going to give a zero bonus to numerous people on the investment bank and prop trading side, which is IB-speak for GTFO.
 
FarkMeAmadeus
2022-12-16 11:45:31 AM  
Almost bonus season. Gotta lower headcount so there's fewer people with a handout. Much like the alarm guy in the Dark Knight. Once you've done your job, you are expendable.

Sorry low level bankers, you should've been higher up the food chain.
 
HempHead
2022-12-16 11:52:51 AM  

shinji3i: Tyrone Slothrop: I've been assured we're no where near a recession. All the mass layoffs are just a meaningless blip.

after adding significant numbers of staff during the pandemic. Headcount will remain above pre-pandemic levels, the source said.

Investment banks had a blockbuster 2021, but have seen fewer deals this year as companies halted buyouts and listings as interest rates rose.

So they hired a lot of people because interest rates were nonexistant during COVID so they wanted to sell more loans to businesses. Interest rates go back to pre pandemic levels and then their staffing levels follow. Such recession, much no jobs.


Goldman doesn't sell loans, they extract fees from buying and selling.  They are the middleman.
 
CCNP
2022-12-16 11:53:05 AM  
On the plus side, that's 4,000 people who will no longer be exploited by the corporations.
 
cide1
2022-12-16 12:04:08 PM  
A smaller Goldman Sachs is better for America.  Can we make them have a headcount of zero?
 
OptionC [TotalFark]
2022-12-16 12:11:01 PM  

HempHead: shinji3i: Tyrone Slothrop: I've been assured we're no where near a recession. All the mass layoffs are just a meaningless blip.

after adding significant numbers of staff during the pandemic. Headcount will remain above pre-pandemic levels, the source said.

Investment banks had a blockbuster 2021, but have seen fewer deals this year as companies halted buyouts and listings as interest rates rose.

So they hired a lot of people because interest rates were nonexistant during COVID so they wanted to sell more loans to businesses. Interest rates go back to pre pandemic levels and then their staffing levels follow. Such recession, much no jobs.

Goldman doesn't sell loans, they extract fees from buying and selling.  They are the middleman.


Ehhh.... Goldman has a substantial prop-trading business.

IBs will also lend out the initial financing for a bond issue.  They'll generally try to subsequently sell most or all of those bonds, but sometimes they get stuck because market conditions changed (waves to Twitter's creditors).
 
BMFPitt
2022-12-16 12:34:49 PM  

HempHead: shinji3i: Tyrone Slothrop: I've been assured we're no where near a recession. All the mass layoffs are just a meaningless blip.

after adding significant numbers of staff during the pandemic. Headcount will remain above pre-pandemic levels, the source said.

Investment banks had a blockbuster 2021, but have seen fewer deals this year as companies halted buyouts and listings as interest rates rose.

So they hired a lot of people because interest rates were nonexistant during COVID so they wanted to sell more loans to businesses. Interest rates go back to pre pandemic levels and then their staffing levels follow. Such recession, much no jobs.

Goldman doesn't sell loans, they extract fees from buying and selling.  They are the middleman.


How does that change anything in the post you replied to?
 
Nick Nostril
2022-12-16 1:23:04 PM  
Still no C-suiter's in the pokey from all the 2000's shenanigans.
 
Linux_Yes
2022-12-16 3:25:09 PM  

Tyrone Slothrop: I've been assured we're no where near a recession. All the mass layoffs are just a meaningless blip.


Unless you are the one in the blip.

Someone else getting laid off is a recesssion
You getting laid off is a Depression
 
Linux_Yes
2022-12-16 3:26:23 PM  

greatgodyoshi: List of "low performers". Just once, I want a manager to put the CEO and all the VPs on a list, just for giggles.


Fark user imageView Full Size
 
Linux_Yes
2022-12-16 3:27:49 PM  

HempHead: shinji3i: Tyrone Slothrop: I've been assured we're no where near a recession. All the mass layoffs are just a meaningless blip.

after adding significant numbers of staff during the pandemic. Headcount will remain above pre-pandemic levels, the source said.

Investment banks had a blockbuster 2021, but have seen fewer deals this year as companies halted buyouts and listings as interest rates rose.

So they hired a lot of people because interest rates were nonexistant during COVID so they wanted to sell more loans to businesses. Interest rates go back to pre pandemic levels and then their staffing levels follow. Such recession, much no jobs.

Goldman doesn't sell loans, they extract fees from buying and selling.  They are the middleman.


Goldmans Sack gets bigger every year.

Something blockchain is trying to address
 
H31N0US
2022-12-16 3:33:41 PM  

Linux_Yes: Goldmans Sack gets bigger every year. Something blockchain is trying to address


All hail the virtuous Blockchain!

content.fortune.comView Full Size


Are you really that naive?
 
Linux_Yes
2022-12-16 3:52:12 PM  

H31N0US: Linux_Yes: Goldmans Sack gets bigger every year. Something blockchain is trying to address

All hail the virtuous Blockchain!

[content.fortune.com image 619x412]

Are you really that naive?


Do you really believe the internet will stay as it is today and that technology is static??

Why dont you show us a list of wall street crooks over the last 50 years of bank failings???

Oh, you want to present only your side of things....

I see.....
 
Linux_Yes
2022-12-16 3:53:26 PM  

H31N0US: Linux_Yes: Goldmans Sack gets bigger every year. Something blockchain is trying to address

All hail the virtuous Blockchain!

[content.fortune.com image 619x412]

Are you really that naive?


Fark user imageView Full Size
 
H31N0US
2022-12-16 4:07:54 PM  

Linux_Yes: Do you really believe the internet will stay as it is today and that technology is static??


No.

But I do know that regardless of the currency, fiat, crypto, conch shells, whatever, the Goldman Sachs of the world will exist. So will the Bernie Madoffs and SBFs. Which was my point. It apparently sailed a bit over your head.

Tangentially, I believe the blockchain to be worthless tech that adds far more problems than it solves. The endless stream of exchange failures, hacks, thefts tend to prove that out. I've had money in the normie banking system for 4 decades and counting with the only issues being sneaky service charges  (which are removed as soon as I call and have someone do the needful).

Good luck though. We're all counting on you.
 
bighairyguy [TotalFark]
2022-12-16 4:22:03 PM  
Fark user imageView Full Size
 
demaL-demaL-yeH [TotalFark] [OhFark]
2022-12-16 8:37:44 PM  
subby,  you misspelled greedings.
 
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