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Goldman Sachs CEO Says He Takes Complaints From Young Employees Seriously

2021-03-29T09:34:30.493Z


An internal survey carried out by junior bankers called for a drop in weekly working time to 80 hours, compared to 98 hours currently.


David Solomon has decided to respond to the internal survey, which criticizes working conditions in the company.

Respondents complain that they have worked an average of 98 hours a week since the start of the year and usually go to bed around 3 a.m.

They also denounce the psychological and physical pressure exerted by their hierarchical superiors.

Read also: Serial departures of several senior executives at Goldman Sachs

The report, supposed to be confidential, ended up on social media.

Outside of much too long working hours, the report points to criticism in public, unrealistic deadlines, blame without justification, untimely and continuous changes, sidelining in meetings ...

Like a document drawn up for clients, the presentation is made up of eleven pages with figures and graphics.

It is based on a survey of thirteen first-year employees, who believe that their mental and physical health has deteriorated considerably and 77% of them believe they have been

"victims of professional abuse",

according to the presentation which dates back to the present day. from February.

"I can no longer sleep because my anxiety level has exploded,"

says one of them, quoted in the document.

“I knew that my hours would not be from 9 am to 5 am, I did not know that it would be permanently from 9 am to 5 am,”

complained another.

To calm things down, the bank boss sent a voice message to the company's 40,000 employees around the world.

He says he takes the complaint seriously and announces several measures to try to reduce the problem.

The application of the rule of no-work on Saturdays would thus be strengthened and several young bankers would be recruited to come and lend a hand to the most overworked people.

Read also: The salary of the CEO of Goldman Sachs planed by 10 million after the 1MDB scandal

The management of Goldman Sachs, better known for its management based on control, with an opposition to teleworking and an extended presence in the office, called on its employees to express themselves: “

It's great that a group of bankers have joined forces. addressed to its management… If there are any problems, do not hesitate to contact us to ask for help,

 ”indicates the message revealed by Les Échos.

Source: lefigaro

All business articles on 2021-03-29

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