Goldman Sachs’ chief executive has responded to complaints from junior bankers by saying management is going to work harder to give them Saturdays off and to shift bankers from other divisions to the busiest teams in the investment bank, according to a transcript of a call seen on Monday. Last week media reported that a group of junior bankers in Goldman’s investment bank told senior management in February they were working nearly 100 hours a week and sleeping five hours a night to keep up with an over-the-top workload and “unrealistic deadlines”. Half of the group, which consisted of 13 first-year employees, said they were likely to quit by summer unless conditions improved. The bank will also accelerate an effort launched in January to hire more junior bankers and will reassign others from less busy divisions to busier ones to alleviate the work. “In this world of remote work, it feels like we have to be connected 24-7,” Mr Solomon said.

Source: The Irish Times March 23, 2021 12:44 UTC