IIT graduate, 23, laid off by Goldman Sachs in Bengaluru: 'My first job'

Shubham Sahu, 23, had joined Goldman Sachs just six months ago as a software developer. (Image credit: Shubham Sahu/LinkedIn)

An IIT-Kharagpur graduate working in Bengaluru was among those affected by the layoffs at Wall Street major Goldman Sachs. Goldman Sachs on Wednesday began its job cuts that is feared to affect some 3,200 employees or nearly 6.5 per cent of its workforce. This is the biggest round of layoffs by the investment giant.

Shubham Sahu, 23, had joined the company just six months ago as a software developer. The news of losing his job came on Wednesday, soon after his birthday, he said in a LinkedIn post seeking new opportunities.

“Wow, this is truly a different way to start a year,” he wrote.

The chemical engineering graduate had briefly worked at another company before being hired by Goldman Sachs.

“It was my first job and my first experience in software development. While my time at GS was short, I am grateful that I had the chance to learn and grow in such a conducive environment,” Sahu said.

Like Sahu, laid-off employees began taking to LinkedIn, looking for new jobs. Several Indian and Chinese workers who are on H-1B visa in the United States have been impacted.

Read: Indian woman laid off by Goldman Sachs in US: 'I come from a rural family'

Amid the job cuts, Goldman Sachs is reviewing its expenses, including the two private jets it bought and CEO David Solomon’s private jet trips, Financial Times reported.

"We're looking at expenses in every corner of the firm, so it's ridiculous to focus on any single segment or item," a company spokesperson told the BBC.

The investment firm has a workforce of 49,000, up 34 per cent since the end of 2018.

Tens of thousands of people across the world have lost their jobs in the past few months as global technology giants are on a layoff spree globally. Amazon, Meta, Twitter, Stripe, Lyft, Affirm and CloudKitchens are among companies that have sacked employees recently or frozen hiring in the face of sluggish consumer spending, higher interest rates and surging inflation worldwide.