Rumors coming out that Goldman is cutting salaries in certain divisions, can anyone there confirm? Friend is having a superday but concerned about potential for layoffs if this is true
In which division ?
Can they actually unilaterally alter terms of employment, such as salary, that are clearly stipulated in the contract?
What contract ? Very few (non union) jobs in the US have a contract. Goldman has standard “at will” employment - which means the terms of employment (like salary) can decrease. It is extremely unlikely since companies would just lay off people rather than decrease salaries
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Would you burn the bridges for 2x salary bump?
Please do not join GS. It is in an extremely unstable state atm
Can you please elaborate on this? I am interviewing for a position and your insights would be helpful in decision making
Nobody knows what is going on half the times. On top of most of the top level partners have left/leaving. This is both on the finance side and engineering side. Consumer is another debacle they are trying to deal with. No budget for anything. Just do not join GS now. Wait for another year before you see if they can turn it around.