Goldman Sachs called employees for 7:30 am 'meetings' to fire them: report

Goldman Sachs CEO David Solomon had earlier hinted that he may slim down the “footprint of the organisation".

Goldman Sachs laid off 3,000 bankers in a day after calling them to office on the pretext of a meeting with CEO David Solomon at its New York headquarters only to be greeted by the head of the team telling them that they have been fired while their manager observed the proceedings, New York Post reported.

Recounting the experience of his colleague, a Goldman Sachs employee told the publication, “He got here early for the meeting and was told the news. Meeting was put on his calendar under false pretenses. Managers were sorry to do this but their hand was forced and they wished him the best of luck."

Another staffer told New York Post that he was too told to arrive at 7:30 am for a call with Goldman counterparts in the Asia-Pacific region and didn’t question the timing since meetings those with other regions are typically held during “off-hours".

The laid off employees were given the choice to leave the office immediately or wait for colleagues to arrive so they could say goodbye. Most chose to leave following a wave of firing that was carried out before 9 am. This left other employees confused over what had happened when their colleagues did not show up, the publication stated.

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

Meanwhile, Global Head of Communication Tony Fratto said in a statement, “We know this is a difficult time for people leaving the firm. We’re grateful for all our people’s contributions, and we’re providing support to ease their transitions."

Goldman Sachs CEO David Solomon had earlier hinted that he may slim down the “footprint of the organisation". According to a source quoted by New York Post, the investment bank has historically targeted between 1 and 5 per cent of lower performers in positions across the firm. But according to a report by Bloomberg, the company may eliminate as many as 4,000 employees.

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