Goldman Sachs fired bankers at offices in cities including New York, London and Hong Kong. Many of the fired employees did not receive last year's job bonus, and junior bankers had only 30 minutes to pack their bags and leave.

(Bloomberg)

[Financial Channel/Comprehensive Report] Goldman Sachs Group began to lay off 3,200 employees last week. Most of the affected employees were temporarily notified on Wednesday (11th). People (Thirty minutes to get out), even the supervisor who notified the order admitted that the process was "brutal" and "the low morale was terrible."

Goldman Sachs fired bankers at offices in cities including New York, London and Hong Kong. Many of the fired employees did not receive last year's job bonus, and junior bankers had only 30 minutes to pack their bags and leave.

Goldman is cutting jobs equivalent to 6.5 percent of the group's 49,000 employees as it tries to embark on a spending-reduction strategy after years of expansion and a slowdown in its investment banking business.

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Managers tasked with delivering the bad news to employees described the process as brutal, as employees commute to get off work without knowing their fate.

Some of the laid-off employees had about a half-hour to collect their coats and clear their desks before building access cards were deactivated, the people said.

In London, some of the affected bankers went to the Harrild & Sons pub near the office, where they expressed sympathy for colleagues who had been made redundant.

Compensation offered to departing employees varied widely, with many fired without bonuses for their jobs through 2022, people familiar with the matter said.

However, many managing directors will be paid until the end of January and then given 3 months of paid leave; employees at the vice president level or below get 2 months of severance.

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