Fired Goldman Sachs workers shell-shocked after David’s Demolition Day

Fired Goldman Sachs employees walked out of the company’s Manhattan headquarters in amazement Wednesday as CEO David Solomon dropped the ax on thousands of employees.

One group of analysts – all dressed in expensive Canada Goose down jackets – refused to answer questions from a Post reporter before the shell-shocked squad rushed away from the glass skyscraper at 200 West Street.

The mood in the wealthy offices of the prestigious Wall Street firm wasn’t much better, according to insiders.

“I’ve never felt so creepy on 200 West,” said one worker who survived the felling. “This morning was quieter than remote work during the pandemic.”

As The Post previously reported, junior employees have called Solomon’s oath to lay off 3,200 workers “David’s Demolition Day,” with some now calling Wednesday’s bloodbath “D-Day.”

Goldman Sachs headquarters
“I’ve never felt so creepy on 200 West,” said one worker who survived the felling. “This morning was quieter than remote work during the pandemic.”
Bloomberg via Getty Images

The culling, the firm’s first since the pandemic, began shortly after bankers arrived at their desks at 8 a.m., according to The Post insiders. Employee badges were immediately deactivated, and workers were escorted out of the building, which was surrounded by about a dozen guards stationed at the entrance.

Many laid-off workers left with blank eyes, while others left exhausted and immersed in conversations on mobile phones.

One stalwart employee, dressed in a shirt and fleece jacket, when asked about ongoing layoffs, replied: “I don’t understand what you’re talking about.”

Another analyst in his twenties turned and walked in the opposite direction.

CEO David Solomon
Junior employees have called Solomon’s oath to lay off 3,200 workers “David’s Destruction Day,” and some are now calling Wednesday’s bloodbath “D-Day.”
REUTERS

The Post was unable to confirm the total number of employees laid off, but insiders said the troubled consumer banking division, which never turned a profit, was hit particularly hard. These insiders add that no division was spared, and employees at every level, from analysts to the managing director, were laid off.

According to Litquidity’s popular financial report, even recently promoted employees have been laid off.

“We know this is a difficult time for people leaving the firm. We are grateful to all of our employees for their contributions and are providing support to ease their transition,” a Goldman spokesperson told The Post. “Now we are focused on getting the size of the firm right given the opportunities that are opening up in front of us in a challenging macroeconomic environment.”

Sources told The Post that ahead of the layoffs, managers received guidance from Human Capital Management, the company’s HR department, with advice on how best to fire employees. But many laid-off workers remained in the dark about their severance pay, the source said.

Employees work on the trading floor on Wednesdays.
Employees work on the trading floor on Wednesdays.
REUTERS

“[There is] a lot of controversy and inconsistency regarding some people receiving severance pay, ”said one of the employees of The Post.

Many managing directors were told they would receive three months or more of pay, while junior employees were told they would receive two months or less, the source said. Freshman starting salaries start at $110,000.

In addition to New York, workers at Goldman’s San Francisco, Dallas, Hong Kong and London offices have also been laid off. The layoffs at the firm’s Paris office have been put on hold until Thursday, sources told The Post. Before D-Day, Goldman employed about 50,000 people.

Employees who survived Solomon’s wrath are still scared, according to insiders. One staff member, who spoke on condition of anonymity, said part of the concern was that Wednesday’s cuts could be just the beginning.

There is no relief. There are rumors that this is not all … apparently, not all today, ”said the employee.

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